China-Linked Loan App Scams Estimated to Cause Over $3 Billion in Global Losses

In a remarkable twist, a Karnataka man named Suresh, who spent over 18 months in jail on murder charges, was exonerated after his wife, Mallige, presumed dead, resurfaced alive. According to the Press Trust of India, Suresh faced allegations of killing Mallige after her disappearance in 2020, following the discovery of a skeleton believed to be hers. The case took a dramatic turn when Mallige was found on April 1, 2025, in Madikeri. Suresh had been imprisoned based on a police investigation that linked him to Mallige's alleged murder, claiming the skeleton was hers. However, discrepancies arose after DNA testing showed a mismatch between the skeleton and Mallige's lineage. A court summoned the Superintendent of Police to report on the investigation's flaws, demanding answers by April 17. Suresh's lawyer, Pandu Poojari, emphasized the need for accountability, stating there should be investigations into the skeleton's identity and the police's handling of the case. Following this incident, Suresh plans to seek justice and compensation for the wrongful accusations against him.

Indian authorities are intensifying their efforts against Chinese-linked loan app scams, which have reportedly resulted in global losses exceeding $3 billion since 2020. The Enforcement Directorate (ED) has recently arrested two individuals, Sayid Muhammad and Varghese TG, for their involvement in a fake loan app scheme that deployed around 500 mule bank accounts and processed approximately ₹719 crore (around $86 million) obtained from scam victims. According to ED sources, the operations rely heavily on data harvesting, extortion, and money laundering through cryptocurrencies. Indian officials have pointed to the direct involvement of Chinese government entities, including the Communist Party, in orchestrating these scams. The apps, including My Cash and Cashbean, have reportedly trapped users through threats and blackmail, leading to at least a dozen reported suicides in India. The ED's investigation highlights sophisticated tactics employed in the scams, which include infiltration, comprehensive data collection, and international money laundering. The scope of these scams spans multiple countries, including Nigeria, Kenya, and the Philippines, raising concerns over their impact on global economic stability.

Yarden Bibas, a freed Israeli hostage, has shared harrowing experiences from his captivity in Gaza, where he endured taunting from Hamas fighters regarding his family’s fate. In a CBS 60 Minutes interview aired on March 31, 2025, Bibas recounted how his captors told him, "You’ll get a new wife. New kids. Better wife. Better kids," while he was held in underground tunnels. Tragically, upon his release, Bibas learned that his wife, Shiri, and their two young children, Ariel and Kfir, had been killed during the ordeal. Bibas's children were, allegedly, victims of an Israeli airstrike, although Israeli forensic testing indicated they had died in captivity. His son Ariel, aged four, and nine-month-old Kfir were abducted during Hamas's attack on October 7, 2023, which resulted in 251 hostages. Bibas's case gained significant public support, raising around $1.7 million to aid his recovery efforts after an emotional fundraising campaign initiated by the children’s grandfather. The ongoing conflict has claimed over 48,000 Palestinian lives, according to Gaza's Health Ministry.