Apple Removes Predatory Lending Apps in India

Apple Removes Apps like Pocket Kash, White Kash, Golden Kash, and OK Rupee are among the apps that have been taken off from the Apple store

Apple Removes Predatory Lending Apps in India

Apple removed several loan shark apps from the App Store in India this week, days after users and the media questioned the legitimacy of those services.

Apple Removes Apps like : Pocket Kash, White Kash, Golden Kash and OK Rupee are among the apps that Apple pulled from the store this week. Apps that offer fast loans to consumers in India, climbed to the top 20 financial listings on the App Store in recent weeks. However, according to hundreds of user reviews, they also charge excessive fees.

Lenders also use completely unethical tactics to get borrowers to pay back.

“I borrowed some money in helpless circumstances and […] a day before my loan due date i got some text messages with a picture of me and my phone contacts saying pay your loan or they will notify your contacts us that you don’t pay the loan,” said one user review from last month.

The apps – whose developers have strange names and suspicious websites – have received hundreds of similar reviews, some sharing the even more alarming threats they allegedly received. from lenders.

TechCrunch reached out to Apple for comment on Monday (3rd July 2023), and two days later, the company recalled at least half a dozen apps.

In a statement to TechCrunch, an Apple spokesperson confirmed the company removed the apps, saying they violated the Apple Developer Program License Agreement and guidelines.

Wtf is this, a personal loan app called Kash is threatening to send morphed nude photos of their customer to her entire contact list?! pic.twitter.com/5LcsukVgef
— Sandhya Ramesh (@sandygrains) July 3, 2023

“Our App Store and App Review Guidelines are designed to ensure that we’re providing the safest possible experience for our users,” an Apple spokesperson said. “We do not tolerate fraudulent activity on the App Store and have strict rules for apps and developers that attempt to cheat the system.”

And some reports have discovered how a large number of scam apps can slip through the review process and end up in the App Store.

“As our recent analysis shows: The App Store prevented more than $2 billion in fraudulent transactions by 2022, rejecting nearly 1.7 million app submissions for not meeting quality standards. quality and safety of Apple, and terminated 428,000 developer accounts for potential fraudulent activity.”

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