How Meta Ads Enable Loan Scam That Misuse Aurangabad Bank's Name
By Waquar Hasan In February this year, Mohammed Yusuf Alam, a labourer in Hyderabad, stumbled upon an advertisement about an interest-free loan while scrolling on Instagram. A form to apply for the loan was attached to the ad. He applied for a loan of one lakh rupees intending to build a house back in Godda district in Jharkhand from where he hails. “I got a call from someone. Then I was contacted through WhatsApp. They asked for fee charges of 1,750 rupees,” he said. Over the next few days Alam got two calls asking him to pay 3,200 rupees. “This is how it continued till they swindled around 4...