Chinese loan app companies siphoned off Rs 500 crore from India: Police

The Intelligence Fusion and Strategic Operations (IFSO) Unit of Delhi Police’s Special Cell has busted various modules of instant loan applications having Chinese connection, and arrested 22 people in the last two months for allegedly siphoning off Rs 500 crore to China by the hawala route or by investing in cryptocurrency, an official said on Saturday. The arrested individuals were working on behest of Chinese nationals.

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