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Loan recovery agents turns to Social networking site to neck defaulters with luring profiles.

Many incidents in India tell us that social networking is helping the recovery agents to track the untraceable loan defaulters, thus necking them and extorting or seizing their things( car in case of car loans).

According to a a media reports, Loan recovery agency trace the defaulter on social networking site. A girl is hired, paying Rs.5000( approx $100) for each successful case cracked. Then the girl creates a fake profile with luring content, adds the defaulter on the networking site, and encouraged him to meet her for a date at a high-end restaurant. And extracting the money from the defaulters.

This the way the recovery agents are using to extract their money. Police can't act until an official case is registered against them.

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