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Govt cracks down on 3 more malicious loan apps 🚨

Govt cracks down on 3 more malicious loan apps 🚨

Govt cracks down on 3 more malicious loan apps 🚨

• The government has targeted 3 more malicious loan apps and directed Google to remove/disable them from the Play Store.

• The apps are Horizon Cash Service, Money Score Monitor and Zelicredit.

• According to I4C, the apps allegedly attracted users with promises of quick loans and low interest rates, but later demanded exorbitant repayments.

• The apps were also allegedly found accessing sensitive data including Aadhaar details, financial information, contacts, gallery and camera.

• Google was directed to remove/disable the apps within 3 hours, and the order has been complied with.

• This takes the number of malicious loan apps flagged by I4C to Google this month to 9.

• The government is stepping up its crackdown on financial fraud and data theft linked to fake loan apps.

Avoid downloading unknown loan apps for quick credit and always verify whether the app is linked to an RBI-regulated lender.

This news is for information only and is not investment advice. Please do your own research before making investment decisions.