The applications were disabled because they gave users inaccurate information.
Islamabad: Securities and Exchange Commission of Pakistan (SECP) has blocked more 120 online loan applications in Pakistan on Wednesday.
According to details the SECP, along with Google and PTA, prohibited 120 online illicit loan apps from the Play Store.
The applications were disabled because they gave users inaccurate information.
Additionally, complaints about these apps' privacy practices and money-recovery procedures have been filed.
The SECP stated that the regulatory framework for licensed Non-Banking Finance Companies has been tightened and the Federal Investigation Authority (FIA) was also approached for action against those behind these illegal loan apps.
Additionally, Google has implemented a new loan app policy that restricts Play Store placement to SECP-approved loan apps only.
LHC orders to form committee to investigate harassment in educational institutions
- 2 گھنٹے قبل
FO highlights objectives of PM Shehbaz’s visit to Saudi Arabia
- 15 منٹ قبل
Israeli’s worst bombing in Gaza, 200 Palestinians martyred, several injured
- 5 گھنٹے قبل
Mercedes-Benz is hedging its bets with rebooted CLA sedan
- 6 منٹ قبل
24 dengue cases reported in Karachi
- 9 منٹ قبل
Bahraini National Guard Commander meets COAS Asim Munir
- 3 گھنٹے قبل
CTD kill three terrorists in Bannu, Charsadda
- 29 منٹ قبل
Actress Mariyam Nafees gives birth to first child
- 6 گھنٹے قبل
Current account deficit reduced by over $1bn in 8 months
- 4 گھنٹے قبل
Mother, daughters kidnapped from Sheikhupura rescued in Lahore
- 4 گھنٹے قبل
‘Aghosh’ program: New mothers, pregnant women in Punjab to get Rs23,000
- ایک گھنٹہ قبل
Army Chief arrives in Parliamentary Committee on National Security meeting
- 2 گھنٹے قبل
