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.
FIA, IB receive praise from PM for dismantling human trafficking network
- 10 گھنٹے قبل
Karachi's Soba Nagar transforms through collaborative WASH initiative
- 14 گھنٹے قبل
Fire at Kochani nightclub kills 51, injures over 100
- 17 گھنٹے قبل
One down, three to go: Chelsea on course for quadruple after League Cup win
- 2 گھنٹے قبل
Ration distribution turns tragic in Karachi as elderly woman dies in stampede
- 10 گھنٹے قبل
Four killed, three injured in separate terrorist attacks on police stations in KP
- 17 گھنٹے قبل
Byrd gets first ECU hit 3 years after amputation
- 2 گھنٹے قبل
New Zealand storms to nine-wicket win over Pakistan in first T20I
- 16 گھنٹے قبل
Woman dies after falling from Karachi building during drug raid
- 17 گھنٹے قبل
Five killed as coaster plunges into ravine in Azad Kashmir
- 16 گھنٹے قبل
33 killed, dozens injured as tornadoes hit Central US
- 16 گھنٹے قبل
Iran’s military vows retaliation in response to Trump’s threats
- 13 گھنٹے قبل
