Google Play Store takes down fake loan apps in India
Google Play Store has eliminated hundreds of loan applications in India, as per the news reports. The apps are said to have been violating Google’s app policies.
In India, Google Play Store has become reconciled with the growing harmful financial services products and decided to take them down on Thursday. During the pandemic, a sudden increase in the magnitude of personal loan apps is seen in India, putting millions of user data at risk. So to the apps in the list, the company has asked the developers to clear that they abide by the laws and regulations provided by the RBI.
Suzanne Frey, the Vice President of Product, Android Security and Privacy said, “We have reviewed hundreds of personal loan apps in India, based on flags submitted by users and government agencies. Apps that fail to do so will be removed without further notice. In addition, we will continue to assist the law enforcement agencies in their investigation of this issue.”