Of 75 mobile loan apps involved in financial fraud with citizens, at least 40 apps have been removed from the Google Play Store and 35 will be removed by May 31 next, official said on Wednesday.
A multi-billion financial fraud committed by these mobile loan apps with Pakistani citizens has been unearthed.
These apps reportedly swindled 250,000 people out of Rs90 billion. They were also involved in looting the citizens through various offers on Eid.
Personal and sensitive data of the citizens had also been stolen through these mobile apps. Java and IDA apps have committed a financial fraud of millions of rupees with the citizens.
Similarly, Waqar Jahanzeb and Ali Jutt of Gujranwala have gone into hiding after financial fraud through mobile apps.
The Securities and Exchange Commission of Pakistan (SECP) has issued a circular about these apps. All the citizens have been asked to confirm from the SECP website before using these apps.
The Federal Investigation Agency (FIA) Cybercrime Wing has also received dozens of complaints about these apps. However, the organisation is yet to control those involved in this fraud.
