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How to File Complaint Against Loan Apps | Online Fraud Loan Applications | Loan Apps Complaint
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How can I file a complaint against a fraud loan application?
How to File Complaint Against Loan Apps | Online Fraud Loan Applications | Loan Apps Complaint
I know may people are facing the same issue where huge interest has been charged by these fraud criminal apps. Despite several complaints, they are still doing the same and looting people's money. They are not affraid of anything not even police or law.
Here, I will be giving you an personal advise. As soon as you receive any such threatening message. Immediately send and message to all your contacts explaining that they might receive an unapropritate about you. Ask them to report the number to whatsapp as soon as they receive the message. By doing this, when whatsapp system receive so many reorts of an number then their system will blacklist their number from whatsapp.
Furthermore, I will strongly suggest you to check the app about us and contact us details. Make sure they are comply with RBI guidelines. If you don't find any such information they do not fill any of your personal information and do not give any rights of your phone to these apps.
The Security and Exchange Commission of Pakistan (SECP) on advised the public to not deal with fake loan apps downloaded from Google Play Store.
Asaan Qarza, which has been downloaded over one million times from Google alone, is one of 74 fake loan apps that claim to be a “professional 100% online loan application” that provides cash.
These applications claim to offer people easy loans at low-interest rates. Those who download these apps give access to their phone data including their picture gallery and contact list.
Once these applications are downloaded, they get access to the personal data of the user.
The financial regulatory authority told Geo Fact Check that only 10 micro-credit apps are legit which include Finja, Muawin, Credit Per, Easy PK Loan, Zoodpay & ZoodMall, Qisstpay CreditCat RazCash, Abhi, Barwaqt, Udhar-Paisa and Zaroorat Cash.
These apps are registered with SECP as non-banking financial companies, under the Companies Act, 1956.
“Apps not included in the [above] list are illegal,” Musarat Jabeen, the chief spokesperson of the SECP, told Geo Fact Check via email, “Public is advised not to deal with illegal apps.”
The commission has identified 75 online apps that are scams including Asaan Qarza, which the SECP is hoping to crack down on.
“In order to control the menace of illegal lending apps, SECP has liaised with local regulators such as PTA, FIA, and SBP besides Google and Apple,” Jabeen added.
The spokesperson explained that these illegal apps have a “predatory lending” behaviour, where they blackmail and harass borrowers and breach their data privacy, which are liable for action under the Prevention of Electronic Crime Act, 2016 and the Anti Money Laundering Act, 2010.
Furthermore, the apps are not allowed to access a borrower’s phone book, contact list or photo gallery, even if the borrower has given consent.
Online Fraud Loan Applications
Loan App Harassment Complaint
Loan Apps
The regulatory body has sent the case against 14 illegal apps to the Federal Investigation Agency (FIA) for taking legal action and also decided to amend the rules for licenced companies to digitally provide loans to the public.
The companies under investigation include Flexi Money, Hazir Loan, Credist, Fori Money, Fast Cash, Mr Loan, V Cash and Mera Rupee. Most of them are foreign companies with frontmen in Pakistan. They have fake addresses and use the SECP’s name illegally. They also use different VPNs to communicate with people while concealing their location.
They lure people by offering loans of up to Rs50,000 for 90 days, and give them loans of Rs2,000 to Rs3,000 for a week, charging up to 200 per cent interest and service fees.
The SECP spokesperson said that they had introduced digital lending in the country legally and that sector was performing well, adding that eight companies were licensed, with two of them providing small loans while six others providing other types of loans, including business ones.
He said they had decided to make the digital lending rules stricter by amending them for public safety and to prevent misuse, following which new licences would be issued.
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How to File Complaint Against Loan Apps | Online Fraud Loan Applications | Loan Apps Complaint
I know may people are facing the same issue where huge interest has been charged by these fraud criminal apps. Despite several complaints, they are still doing the same and looting people's money. They are not affraid of anything not even police or law.
Here, I will be giving you an personal advise. As soon as you receive any such threatening message. Immediately send and message to all your contacts explaining that they might receive an unapropritate about you. Ask them to report the number to whatsapp as soon as they receive the message. By doing this, when whatsapp system receive so many reorts of an number then their system will blacklist their number from whatsapp.
Furthermore, I will strongly suggest you to check the app about us and contact us details. Make sure they are comply with RBI guidelines. If you don't find any such information they do not fill any of your personal information and do not give any rights of your phone to these apps.
The Security and Exchange Commission of Pakistan (SECP) on advised the public to not deal with fake loan apps downloaded from Google Play Store.
Asaan Qarza, which has been downloaded over one million times from Google alone, is one of 74 fake loan apps that claim to be a “professional 100% online loan application” that provides cash.
These applications claim to offer people easy loans at low-interest rates. Those who download these apps give access to their phone data including their picture gallery and contact list.
Once these applications are downloaded, they get access to the personal data of the user.
The financial regulatory authority told Geo Fact Check that only 10 micro-credit apps are legit which include Finja, Muawin, Credit Per, Easy PK Loan, Zoodpay & ZoodMall, Qisstpay CreditCat RazCash, Abhi, Barwaqt, Udhar-Paisa and Zaroorat Cash.
These apps are registered with SECP as non-banking financial companies, under the Companies Act, 1956.
“Apps not included in the [above] list are illegal,” Musarat Jabeen, the chief spokesperson of the SECP, told Geo Fact Check via email, “Public is advised not to deal with illegal apps.”
The commission has identified 75 online apps that are scams including Asaan Qarza, which the SECP is hoping to crack down on.
“In order to control the menace of illegal lending apps, SECP has liaised with local regulators such as PTA, FIA, and SBP besides Google and Apple,” Jabeen added.
The spokesperson explained that these illegal apps have a “predatory lending” behaviour, where they blackmail and harass borrowers and breach their data privacy, which are liable for action under the Prevention of Electronic Crime Act, 2016 and the Anti Money Laundering Act, 2010.
Furthermore, the apps are not allowed to access a borrower’s phone book, contact list or photo gallery, even if the borrower has given consent.
Online Fraud Loan Applications
Loan App Harassment Complaint
Loan Apps
The regulatory body has sent the case against 14 illegal apps to the Federal Investigation Agency (FIA) for taking legal action and also decided to amend the rules for licenced companies to digitally provide loans to the public.
The companies under investigation include Flexi Money, Hazir Loan, Credist, Fori Money, Fast Cash, Mr Loan, V Cash and Mera Rupee. Most of them are foreign companies with frontmen in Pakistan. They have fake addresses and use the SECP’s name illegally. They also use different VPNs to communicate with people while concealing their location.
They lure people by offering loans of up to Rs50,000 for 90 days, and give them loans of Rs2,000 to Rs3,000 for a week, charging up to 200 per cent interest and service fees.
The SECP spokesperson said that they had introduced digital lending in the country legally and that sector was performing well, adding that eight companies were licensed, with two of them providing small loans while six others providing other types of loans, including business ones.
He said they had decided to make the digital lending rules stricter by amending them for public safety and to prevent misuse, following which new licences would be issued.
FOR FREE LEGAL ASSISTANCE
👉Contact: +92 307 4834430
SERVICES WE PROVIDES:
👉Divorce Papers, Divorce Deed for overseas,
👉Registration of marriage / Court Marriage / Nikahnama
👉 Online Nikah
👉Divorce certificate,
👉Death Certificate,
👉Birth Certificate,
👉Legal Notices,
👉Dissolution of Marriage Cases / Khula Case,
👉Nadra issues,
👉Sale Deed Registration / Registry,
👉NTN Registration,
👉Preparation of Legal Documents,
And Many More Regarding Law
Follow Me On Social Media👇👇
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