GoI works with IT ministry and RBI to clamp down on Ponzi apps

Historically, scamsters have been one step ahead of regulators. What has alarmingly deepened the reach of today's faceless - and often stateless - operators is the proliferation of touchscreen mobile phones, cheap internet data and sharing of personal information by unsuspecting users while downloading apps, or responding to fancy financial promises and job offers over a chat. The schemes, too, have evolved.

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