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.
Pakistan condemns comments of Indian Defence Minister on Kashmir dispute
- 6 hours ago
Ahsan Khan to lead international horror film
- 5 hours ago
What I track in a day
- 18 hours ago
PSDF engages overseas employment promoters to expand overseas jobs under CM's Parwaaz Card Scheme
- a day ago
Newly appointed CNSC Aamer Raza meets CDF Asim Munir: ISPR
- 22 minutes ago
Meta glasses are killing the vibe
- 7 hours ago
Model Roma Michael weds actor Shaan Baig
- a day ago
Polling extended in first phase of AJK elections
- 5 hours ago
SBP keeps policy rate unchanged at 11.5pc
- 6 hours ago
Governor Punjab signals PPP's full opposition strategy
- an hour ago
Warner Bros. is suing Amazon for poaching employees
- 18 hours ago
‘Expo Faisalabad 2026’ a springboard for MSMEs: SAPM Haroon Akhtar Khan
- a day ago
