Leaving no trail of money
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Staff salaries being paid through third party companies
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Staff salaries being paid through third party companies
The promoters of two private companies managing the operations and call centres of at least 30 instant loan apps from Hyderabad have designed a well thought-out plan not to leave any money trail.
Hyderabad Cyber Crime police probing the alleged fraud by these microfinancing companies told
The Hindu that the Liofang Technologies Private Limited and Hotful Technologies Private Limited, entered into several third party agreements for payment of staff salaries, defraying operational costs and other incidental expenses in running their nefarious activities.