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.
UConn-Creighton ends in scuffle over 'fancy' dunk
- 3 hours ago
Wolf attack in Central Kurram leaves 9 injured, including child
- 3 hours ago
Security meeting scheduled amid rising terror threats in Pakistan
- 4 hours ago
SpaceX aims to send robots to Mars by 2026, humans expected by 2029-2031
- 3 hours ago
Five family members of SHO injured in grenade attack in Khuzdar
- an hour ago
Houthis launch twin attacks on USS Harry Truman
- 3 hours ago
PSX continues rally as KSE-100 gains 663 points amid IMF optimism
- 4 hours ago
FM reveals no plans for salary boost or pension increase in new budget
- 4 hours ago
TTP camps destroyed in Khyber Pakhtunkhwa during police operation
- 3 hours ago
Gold glitters, historic high in Pakistan
- 3 hours ago
Weekend US tornadoes leave at least 40 dead
- 3 hours ago
Trump’s attacks on higher ed could provide a chance to reimagine the university
- 4 hours ago
