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.
Bahraini National Guard Commander meets COAS Asim Munir
- 2 hours ago
Think twice before you smear beef tallow and salmon sperm on your face
- 6 hours ago
Mother, daughters kidnapped from Sheikhupura rescued in Lahore
- 3 hours ago
Current account deficit reduced by over $1bn in 8 months
- 3 hours ago
2nd T20: New Zealand defeat Pakistan again
- 5 hours ago
‘Aghosh’ program: New mothers, pregnant women in Punjab to get Rs23,000
- 8 minutes ago
Israeli’s worst bombing in Gaza, 200 Palestinians martyred, several injured
- 4 hours ago
Army Chief arrives in Parliamentary Committee on National Security meeting
- 40 minutes ago
Anthropic’s plan to win the AI race
- 8 hours ago
LHC orders to form committee to investigate harassment in educational institutions
- 31 minutes ago
Actress Mariyam Nafees gives birth to first child
- 5 hours ago
Conservatives’ decades-long quest to destroy the Department of Education
- 6 hours ago
