Google deletes 2,200 fraudulent loan apps
Search engine major reviewed 4,000 loan apps and suspended/removed loan apps from Play Store
How to combat fraudulent apps: Strategies for RBI, lenders, consumers
The govt is constantly engaged with the RBI, other regulators and stakeholders concerned to control fraudulent loan apps, said Bhagwat K Karad, MoS for Finance
New Delhi: The central government on Tuesday informed Parliament that Google has suspended or removed more than 2,200 fraudulent loan apps from its Play Store between September 2022 and August 2023.
The government is constantly engaged with the Reserve Bank of India (RBI) and other regulators and stakeholders concerned to control fraudulent loan apps, Minister of State for Finance Bhagwat K Karad said in a written reply to Rajya Sabha.
“As per the information received from MeitY (Ministry of Electronics and Information Technology), during April 2021-July 2022, Google had reviewed approximately 3,500 to 4,000 loan apps and suspended/removed over 2,500 loan apps from its Play Store,” he said.
Similarly, he said, during September 2022-August 2023, over 2,200 loan apps were removed from the Google Play Store.
“Further, Google has updated its policy regarding enforcement of loan apps on the Play Store and only those apps are allowed on the Play Store, which are published by Regulated Entities (REs) or those working in partnership with REs. It has also deployed additional policy requirements with strict enforcement actions for loan apps in India,” he said.
