The investigation into the massive ‘Mast Money’ loan app fraud has now widened as the Crime Branch planning to examine the role of the Google Play Store in making the app available to lakhs of users across the country. Adressing a press conference, Deputy Commissioner of Police (Crime) Deepak Agrawal said the police are consulting legal and cyber experts to explore whether action can be initiated against those responsible for allowing the fraudulent app to be listed on the Play Store. According to the investigation, a cyber fraud gang based in Madhya Pradesh allegedly cheated more than 2.34 lakh people of over Rs 234 crore through the loan app. Police have arrested the app’s software developer, Kamil Siddiqui (31), from Berasia near Bhopal. During questioning, he reportedly admitted to developing the application for the gang.

 

Three of his associates are currently absconding and efforts are underway to trace them. The probe has also revealed that the app was downloaded by more than 5.32 lakh users. Investigators found that once the application was installed, an APK file was also downloaded onto users’ phones. This allegedly allowed the fraudsters to gain access to personal data stored on the devices, which was later misused to threaten and extort victims. Police said nearly 2.63 lakh users later removed the app from their phones.

 

However, at least 2.34 lakh people are believed to have lost money after using the application. Investigators have also uncovered a three-layer modus-operendi behind the fraud. A four-member team allegedly developed the app for just Rs 20,000, while separate groups managed call centres that offered instant loans. Once borrowers accepted the loans, they were allegedly threatened, harassed and forced to pay much higher amounts. Police said investigation is continuing to identify everyone involved in racket and determine how the app remained accessible to the public despite the serious security risks.