Published: Published Date – 10:52 PM, Mon – 2 May 22
There is a steep rise in legal mobile lending in India. This however, has become a blessing in disguise for apps from scammers. The extent of fake loan apps is so high that Google’s Play Store had to remove over 200 of them since the last quarter of 2021 due to policy violations. But they are reappearing with similar names and icons on social media and messaging platforms.
These scam apps require mandatory access/permissions to contacts, gallery and location, and their sole purpose is to use scare tactics, offensive messages and defaming loan applicants even if they are repaying according to the terms and conditions. The harassment is so much that we saw over 20 suicide cases in 2021 and in 2022, we have four already.
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