After hacking into mobile phones of borrowers, loan recovery agents are spamming them with 'text bombs' containing gibberish that makes the mobile hang for a certain period. Some of the victims have uninstalled payment apps fearing their bank accounts linked with their mobile phone numbers will be compromised and money will be siphoned off.

Shaikh Mohammed Rawther, 25, a Mahim East resident, had started a small-scale business before the lockdown and needed capital. "I borrowed Rs7,000 through the CashIn app. But the pandemic hit and I had to wrap up the business. Recovery agents first harassed me through phone calls and hacked into my phonebook," said Rawther.