Predatory Loan Apps

Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.

SpyLoan malware has been spotted on the Play Store over the course of this year and removed by Google, according to details shared by ESET researchers. They are designed to collect vast amounts of information from a user's device when they borrow money, only to blackmail and extort them into repaying the sum with high interest amounts within a shor...

Opera -- the maker of a popular Web browser for Windows, Android, and iOS -- is allegedly offering predatory loans through four Android apps aimed at India, Kenya and Nigeria (CashBean, OKash, OPay, and OPesa) that appear to be in direct violation of Google Play Store policies, forbidding predatory loans and deceptive descriptions.

Aiming to fight predatory loans better, Google has banned Play Store apps with 'deceptive or harmful' personal loans where the annual percentage rate was 36 percent or higher.

Founder and Chief Executive Officer (CEO) of Zerodha Nithin Kamath recently warned his followers about the alarming rise of predatory digital lending apps that demand extensive access to users' personal information.

SpyLoan malware has been spotted on the Play Store over the course of this year and removed by Google, according to details shared by ESET researchers. They are designed to collect vast amounts of information from a user's device when they borrow money, only to blackmail and extort them into repaying the sum with high interest amounts within a shor...

Opera -- the maker of a popular Web browser for Windows, Android, and iOS -- is allegedly offering predatory loans through four Android apps aimed at India, Kenya and Nigeria (CashBean, OKash, OPay, and OPesa) that appear to be in direct violation of Google Play Store policies, forbidding predatory loans and deceptive descriptions.

Aiming to fight predatory loans better, Google has banned Play Store apps with 'deceptive or harmful' personal loans where the annual percentage rate was 36 percent or higher.