Recently, money lending applications via iCloud have flourished in Vietnam. However, participants will have to face many risks, especially “distorted” loan sharks.
iCloud is a cloud data storage service developed by Apple. The iCloud account plays an important role when helping users manage devices, backup and synchronize data such as videos, photos, contacts or messages on iPhone, iPad and MacBook.
Groups borrowing money using iCloud appear widely on social networks (Photo: The Anh).
Recently, the form of borrowing money using iCloud has flourished in Vietnam. With just a few simple search keywords on the social network Facebook, users can easily find a series of black credit lending groups through exchanging iCloud account login information.
The number of members of each group can range from a few tens of thousands to more than hundreds of thousands of participants. Every day, dozens of different articles appear on these groups with instructions on how to borrow money through iCloud with just a few quick steps.
According to promotional posts, users who only own a new iPhone, iPad or MacBook along with a genuine iCloud account can borrow money without collateral. The loan amount will depend on the value of the iPhone or iPad that the borrower owns.
In some cases, the lender will ask the borrower to log in to the iCloud account they provide or log in to the requested link. After doing so, the borrower will need to enable the Find My Phone feature, sync contacts, and then sign the loan contract.
This form of black credit lending is favored by some people because it is a quick and simple way to borrow money. However, they pose many different risks.
Bad guys can use iCloud accounts to remotely lock devices (Photo: CNet).
In case iCloud account login information is leaked, users may have their personal data and other sensitive information stolen. Bad guys can also use iCloud accounts to remotely lock the device, turning the user’s iPhone into a “brick”.
Not stopping there, iCloud accounts can also become a tool for scammers to use for extortion or loan sharking purposes.
To avoid falling into scam traps, the Department of Information Security, Ministry of Information and Communications, recommends that people say “no” to online loan services in general and via iCloud in particular. At the same time, people do not provide personal information or bank account information in any form.
“People should choose reputable financial institutions and banks to make transactions, not seek services on social networks. When encountering cases of fraud like the above, people need to report to the authorities.” nearest authorities or police agencies for timely support and resolution,” the Information Security Department recommends.