Crackdown on loan apps: When Google Play slashed count from 4000 listings to just 200


In a current interview, Saikat Mitra, Vice President and Head of Belief and Security for Asia-Pacific at Google, make clear the challenges confronted in addressing the problem of fraudulent mortgage apps on the Google Play Retailer. Mitra defined that the delay in addressing these considerations stemmed from the truth that the apps, whereas not containing malware or dangerous content material, exhibited problematic enterprise practices in the actual world. When builders submit apps for itemizing on the Play Retailer, Google scrutinises them extensively, contemplating components like code integrity and content material security.

Mitra in an interview with emphasised that the corporate’s dedication to investing considerably in guaranteeing app safety in opposition to malware and information theft.

Google’s Collaboration With Regulatory Authorities

Google has taken further precautions with mortgage apps, collaborating with regulatory authorities over the previous two years to ascertain stricter pointers. Underneath new authorities laws, mortgage apps should show their lending licence to be authorised on the Play Retailer, necessitating affiliation with a financial institution or NBFC licensed by the RBI.

Mitra highlighted the numerous adjustments in Google’s strategy, stating that mortgage apps on the Play Retailer at the moment are restricted of their entry to consumer information, contacts, and pictures. At present, there are 200 vetted and verified mortgage apps partnered with an NBFC, a notable discount from the earlier 4000 listings.

Addressing consumer security considerations, Mitra urged customers to obtain apps completely from the Play Retailer to keep away from poor-quality experiences, scams, and malware. He cautioned in opposition to sideloading apps, emphasising its restricted management and potential dangers.

Google is actively engaged in collaborations with governments, corresponding to a pilot venture with the Singapore authorities to dam sideloading apps with pervasive permissions. The Indonesian authorities has additionally sought partnership to deal with the challenges posed by sideloading apps.

As digital lending practices surged in India, lots of of pretend mortgage apps infiltrated app shops, preying on susceptible customers looking for short-term monetary support. These apps, primarily concentrating on college students and small shopkeepers in tier-2 and three cities, led to cases of abuse, monetary fraud, harassment, and even suicides.

Mitra defended the commercial of mortgage apps on Google properties like Search, asserting that it is permissible so long as the apps adhere to Play Retailer pointers. Regardless of the challenges, Google stays dedicated to enhancing consumer security and fostering a safe digital atmosphere, he added.


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