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Google Takes Action Against Exploitative Online Lenders

Google takes action against exploitative online lenders
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Google imposes strict regulations on online lenders doing business in Kenya, aiming to protect consumers’ privacy while purging malicious Google Play app creators.

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Loan apps in the country and Nigeria, ask users for sensitive text messages and call permissions before using them to sign declaration forms.

Google takes action against exploitative online lenders

To continue to be available on the Play Store, all personal loan apps currently available in the two nations must submit the required information within 30 days.

Additionally, for new personal loan apps to be accepted on Google Play, they must sign the declaration form.

Google takes action against exploitative online lenders

“We are introducing additional requirements for personal loan apps targeting users in Nigeria and Kenya. Personal loan apps in these two countries must complete declaration forms and submit documentation for our review in order to remain or publish new personal loan apps on Google Play,” said the company.

Digital lenders have increasingly come under the microscope for misusing the private data of users by inundating borrowers.

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Relatives and kin were being bombarded with calls asking them to plead with the borrower to settle loans taken.

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The apps often require users to let them access their calls, SMSs, contacts, and other permissions before they are allowed to use them.

In September CBK announced it had approved 10 digital lenders who had complied with new digital lending laws and granted them operational licenses.

Read also: Users give their take as Google services fail

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