Apple has taken action against six predatory loan apps in India after receiving concerns from users. These apps were found to engage in unethical behavior, such as pretending to be financial institutions, charging excessive fees, and harassing borrowers for repayment.
Recently, certain quick-loan apps like White Kash, Pocket Kash, and Golden Kash had appeared on the Top Finance Apps chart, prompting users to report their concerns. These apps demanded unnecessary access to users’ contact lists and media. Furthermore, numerous user reviews indicated that these apps charged excessive and unnecessary fees. They also employed unethical practices, such as imposing exorbitant interest rates and requesting “processing fees” that amounted to half of the loan.
Users also reported being harassed and threatened by these loan apps. The apps would threaten to contact the users’ acquaintances if payment was not made by the due date. Shockingly, one user even claimed that the app company threatened to create fake nude photos of her and share them with her contacts.
Apple has removed these loan apps from the App Store as they violated the rules outlined in the Apple Developer Program License Agreement and guidelines. Apple discovered that these apps falsely claimed to be affiliated with legitimate financial institutions.
In 2022, the App Store prevented over $2 billion in fraudulent transactions, rejected nearly 1.7 million app submissions for failing to meet Apple’s quality and safety standards, and closed 428,000 developer accounts due to suspected fraudulent activity.
Apple stated, “The App Store and our App Review Guidelines are designed to provide users with the safest possible experience. We have a zero-tolerance policy for fraudulent activity and strict rules against apps and developers who attempt to cheat the system.”
Google also took similar action earlier this year by removing over 3,500 personal loan apps from the Play Store in India due to policy violations in April.
Recently, certain quick-loan apps like White Kash, Pocket Kash, and Golden Kash had appeared on the Top Finance Apps chart, prompting users to report their concerns. These apps demanded unnecessary access to users’ contact lists and media. Furthermore, numerous user reviews indicated that these apps charged excessive and unnecessary fees. They also employed unethical practices, such as imposing exorbitant interest rates and requesting “processing fees” that amounted to half of the loan.
Users also reported being harassed and threatened by these loan apps. The apps would threaten to contact the users’ acquaintances if payment was not made by the due date. Shockingly, one user even claimed that the app company threatened to create fake nude photos of her and share them with her contacts.
Apple has removed these loan apps from the App Store as they violated the rules outlined in the Apple Developer Program License Agreement and guidelines. Apple discovered that these apps falsely claimed to be affiliated with legitimate financial institutions.
In 2022, the App Store prevented over $2 billion in fraudulent transactions, rejected nearly 1.7 million app submissions for failing to meet Apple’s quality and safety standards, and closed 428,000 developer accounts due to suspected fraudulent activity.
Apple stated, “The App Store and our App Review Guidelines are designed to provide users with the safest possible experience. We have a zero-tolerance policy for fraudulent activity and strict rules against apps and developers who attempt to cheat the system.”
Google also took similar action earlier this year by removing over 3,500 personal loan apps from the Play Store in India due to policy violations in April.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
