Hyderabad Police are planning to write a letter to Google to weed out 40 instant loan applications. Besides these 40 apps, law enforcement officials have identified another 220 apps against which evidence is still being collected.
Besides these 40 apps, law enforcement officials have identified another 220 apps against which evidence is still being collected. (Representative image)
Taking action against several unregulated loan providing portals trapping innocent and gullible people in their clasps, Hyderabad Police will soon demand that Google remove 40 such apps from its Play Store.
According to Times of India (TOI) report, these apps are known to provide quick loans to an applicant at first but often turned out to publicly humiliate the borrowers on social media to extort the lent amount and interest.
Apart from using loan collectors to threaten, some of these apps have gone so far as to transform photos of defaulters and post them with derogatory captions on social media and also send them to the contact list. from a lender.
These tactics of public humiliation and defamation are not only unethical and unethical to banking regulations, but also lead to extreme results of suicide in a borrower unable to cope with social stigma.
Police have also recognized 220 other apps engaging in similar activities and evidence against them is being collected after which action will be taken against them as well.
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