The defunct network
IN Ivory Coasta worrying phenomenon has grown in recent years: usurious loans i line. Thousands of citizens, often in a precarious financial situation, have been tempted by the promise of quick and formality-free loans offered by unscrupulous digital platforms. Behind this seemingly easy access to credit are hidden organized criminal networks that use new technologies to defraud and extort significant sums from borrowers. Alerted by a wave of complaints, the Platform for Combating Cybercrime (PLCC) recently intensified its efforts to put an end to these abuses.
The phenomenon has grown to such an extent that the PLCC has registered nearly 500 complaints in a matter of months. THE victims, men and women from all backgrounds, condemn opaque and aggressive financial practices. The fraudsters’ modus operandi is always the same: lure borrowers with very favorable credit offers, then overwhelm them with hidden fees, exorbitant interest rates and collection actions of rare brutality.
These complaints led authorities to launch a large-scale investigation, carried out in collaboration with the Digital Criminalistics Laboratory (LCN). The latter, who specializes in the analysis of digital data, played a key role in identifying and tracking down those responsible for this sprawling network. Several arrests took place in various locations across the country, which made it possible to dismantle a significant part of the network. The arrested persons, including code names such as ZJM, TR, SAL and ACE, are suspected of having directed or actively participated in these financial scams.
At the heart of this criminal network is a still unidentified mastermind who has created a truly fraudulent system for providing loans via mobile applications. Applications such as “OZZYMONEY”, “CASHARROW” or even “CRÉDIT CORNET”, which presented themselves as quick financing solutions, were in reality traps cleverly designed to extract money from borrowers. The process is simple but effective: customers are lured by attractive credit offers, often accompanied by low initial interest rates and seemingly flexible repayment terms. But once the loan is granted, the real problems for the borrowers begin.
The first difficulties arise when customers fall behind in their payments. Interest rates, previously announced as moderate, suddenly rise, making repayment increasingly difficult. Worse yet, particularly aggressive debt collectors come on the scene to harass borrowers. The incessant calls and threats end up weighing heavily victimpp. Some report being forced to repay two or three times the amount originally borrowed.
For scammers, this harassment doesn’t stop there. Using sophisticated techniques, they gain access to borrowers’ phone books and then threaten their relatives to apply further pressure. These practices, which allow no escape victims, caused a wave of indignation in the country. Votes are being raised to demand exemplary sanctions against those responsible and better regulation of credit offers in line.
The investigation, which is still ongoing, has enabled the authorities to shed light on particularly insidious practices. Some members of the network admitted that lending platforms were designed to deliberately deceive customers by using algorithms to automatically adjust repayment terms based on the borrower’s apparent creditworthiness. The more distressed the borrower seemed, the faster interest rates rose and caught victimare in a debt cycle.
Faced with this growing threat, the PLCC is redoubling its efforts to secure cyberIvorian space. Information campaigns are regularly conducted to warn the public about the dangers of these lending platforms. line. The authorities also encourage victims to stand up and condemn any questionable practice.
Also tracking of cybercriminals do not stop at arrests already made. New studies are underway to dismantle other networks using similar methods. Among the applications identified, we find names like “PRÊT CI” and “BLAZELOAN”, which operated with the same fraudulent methods. The PLCC, in collaboration with the LCN and other regulatory bodies, is committed to restoring the confidence of Ivorians in the digital environment and protecting consumers from fraud in line.
Ultimately, this case reveals to what extent cyberCrime develops rapidly, adapts to new technologies and exploits loopholes in the system to deceive the most vulnerable. The Ivorian authorities, aware of the challenges this represents, have confirmed their determination to combat this practice and strengthen consumer protection measures. This fight for one cybersafe space is only just beginning, and the vigilance of citizens as well as the responsiveness of institutions will be crucial to stem this scourge.
Jean Chresus, Abidjan
By Koaci
