apparently in India, the most common scam are loan apps that give you real money and they also ask for full permissions on your phone. If you took a picture of your ID card or nudes, or they’ll photoshop nudes, they extort you for exorbitant interest payments and fees for $15-20 or more
It’s not much, but if they can do it to a billion people at once, that’s a lot of money. For richer Indians, they will pay to make it go away and learn a painful lesson. For the poorest, that may be their last $20, and they are forced into suicide instead.
I remember years ago, people saying that microfinance and microcredit would save the 3rd world and then it turns out the average fee and interest on a microloan is 35% APY which is crushing. And now we have even more predatory microloans