Khushi Shah, June 2, 2022

Police recently learnt that loan sharks are pulling the strings from Nepal and the money extorted from the victims is routed to China.

The ministry of home affairs said ‘’On cross-border sharing of the information of the foreign-based companies, the officer said. All the countries in the world have signed a mutual legal assistance treaty (MLAT) to seek cross-border cooperation. To procure crucial data in the criminal matter, the Central Bureau of Investigation (CBI) can make requests to foreign countries from where companies are offering cloud platforms to these lending apps.”

The lenders, through their recovery agents, have harassed multiple borrowers, and driven some of them to commit suicide.The Enforcement directorate is already probing a money laundering case against rogue loan app companies run by Chinese like Linkyun Technology Private Limited and Dokypay Technology Private Ltd. 

Companies have offered cloud platforms to the fraud loan apps and are also giving cloud storage for hosting them. Since these companies are overseas gathering data is difficult. This is why they decided to approach INTERPOL who can use its administrative capabilities for procuring the details of such companies, like the owner’s name, e-mail IDs, the person who did the registration, etc. At the same time Interpol does not have executive powers, so Interpol official do not arrest suspects or act without the approval of national authorities.

More than 1,800 online complaints related to the loan scam, and have been piling up since the lockdown. Hyderabad also received over 100 loan app fraud cases on the past month and revealed international hawala transactions and other illegal activities.1,268 crore and another Rs 120 crore outward foreign remittances. Around 1. 4 crore transactions worth Rs 21,000 crore over payment gateways and bank accounts have been linked to such cases.

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Robots are taking over jobs, but don’t panic yet!

Published:

D V L S Pranathi, January 3, 2023

We would’ve heard many people say that robots will soon take over the world as an exaggeration. However, it is not a joke anymore. People usually are under the presumption that robots are reducing the need for human labor, especially when we consider examples like chatbots on amazon or other shopping platforms where these chatbots provide a much more efficient form of customer service by handling tracking packages without any human involvement. People cannot be blamed for having this chain of thought, especially when robots like Sophia, a humanoid robot, are hyped so much across the world.

A study by Eric Dahlin, a sociology professor at Bringham Young University, has proven that there is no need to have a fear of robot intervention. The study has revealed that the rate at which robots are replacing humans is lower than it seems to the human eye and that people are overestimating the extent to which robots are overtaking the workforce.

A recent study published in the journal Socius: Sociological Research for a dynamic world revealed that only 14% of the workforce jobs had been replaced by robots which is barely anything. However, just as the human mind works, people who have experienced a loss of employment due to a robot have managed to exaggerate the entire idea by three times.

Dahlin surveyed close to 2,000 people regarding their opinions of work replacement by robots to better understand the relationship between job loss and bots. 47% of all jobs, according to those who have been replaced by a robot (about 14%), have been taken over. In a similar vein, people who had not personally experienced job displacement nonetheless believed that robots had replaced 29% of jobs.

He also concluded from his research that this fear among humans could be dated back to the early 1800s. He says that the results have stayed consistent throughout all the studies and that robots are not displacing workers. All companies worldwide are trying to integrate robots and the human workforce for a greater and better outcome.

“An everyday example is an autonomous, self-propelled machine roaming the isles and cleaning floors at your local grocery store,” says Dahlin. “This robot cleans the floors while employees clean under shelves or other difficult-to-reach places.” (source SciTech daily)

Another excellent example of this idea, as stated by Dahlin, is the aviation industry in which humans and robots work together. They use robots to paint the wings of airplanes. A robot can complete one coat of paint in 24 minutes, while the same thing would take a few hours if done by a human. Therefore, humans load and unload the paint while the robots paint. Hence, we can conclude that robots are overtaking taking the world but not at the rate exaggerated by us humans, and it is in our hands to decide if this is a boon or a bane.

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