Killer Loan Apps
CashlessConsumer has been involved in studying the operations of fly-by-night rogue digital lenders as well as broader digital lending ecosystem, following constant complaints of harassment by app based digital lenders which has led to even suicides. This page is a collection of all our efforts related to #KillerLoanApps. We would like to thank everyone involved in fighting the killer loan apps, especially reporters, startup founders, law enforcement, victims of these apps - all of whom provided crucial information in solving the complex puzzle.
Following helped us in understanding the context of the problem in detailed manner.
Operation Hafta Vasooli - Zee Business
50+ News reports from newspapers in Nov, Dec 2020.
- Reversing selected apps and studying them in detail using #OSINT tools such as Koodous, MobSF, Certificate Search. We then grokked Koodous with variety of search filters to get long list of apps and began extracting metadata from them to plot the app network.
- Search playstore for popularly used search terms and enhance app list. Extract metadata, and create enable monitoring Google Play and create LoanApp Database and iterate the process over a month - Code uses Google Play Scraper API
- Banbreach is building a shell company network mapper by extracting, visualizing Registrar of Companies data and the analysis using the alpha build of the mapper gave crucial leads in mapping the network of operators behind the apps.
- Archive, Mirror and study meta app generators - CashlessConsumer Mirror
- Collaborate with startups serving the loan apps ecosystem for intelligence sharing.
- LoanApp Database - Database of 1000+ loan apps along with their playstore metadata, permissions sourced between Dec 25, 2020 - Jan 15, 2021
- Tracking Google Play Deletions
- Suicide Tracker
- Our member Anivar Aravind, volunteer Swathanthra Malayalam Computing, wrote to Finance Minister of Kerala, on regulating digital lending and an annoucement of proposed amendment to Kerala Money Lenders Act, 1958 was made in Kerala Budget 2021.
- CashlessConsumer has been in touch with @CyberDost, a Cyber-safety and Cybersecurity awareness initiative by Ministry of Home Affairs, Government of India and sharing our knowledge, suggestions on combatting the menace of KillerLoanApps
- CashlessConsumer will also be writing to RBI Working Group on Digital Lending shortly with a detailed proposal based on our work.
- Following lists our interactions with journalists about the problem.
- Google removes 5 rogue lending applications - Anam Ajmal, Times of India, Nov 17, 2020
- Instant Money Apps: Loan sharks are now on your mobile - Srikkanth D, Times of India, Dec 3, 2020
- Chinese loan apps mushrooming in India, threaten borrowers with social shaming, harassment, FIRs - Ashlin Mathew, National Herald, Dec 9, 2020
- Regulation needed to monitor money-lending applications: Experts - Sahaya Novinston Lobo, Dec 23, 2020
- India’s instant loan app crisis is made in China - Arundhati Ramanathan, The Ken, Jan 11, 2021
- Made in China: How the instant loan app racket boomed in India - Mithun MK, The News Minute - Jan 12, 2021
- Google cracks down on personal loan apps in India following abuse and outcry - Manish Singh, TechCrunch, Jan 14, 2021
- Google Takes Down Around 200 Lending Apps In India Clean-Up: BQ Exclusive - Vishwanath Nair, Jan 15, 2021
- Google removes 30 loan apps from Play store after RBI red flag - Economic Times, Jan 15, 2021
- How instant loan apps became a death trap - Times of India, Jan 15, 2021
- Troves Of Data Stolen By Fake Digital Lending Apps - Advait Palepu, Medianama, Jan 18, 2021
- Shame, suicide and the dodgy loan apps plaguing Google’s Play Store - Varsha Bansal, Wired, Jan 20, 2021
- Debt and shame via Google Play - Nilesh Christopher, RestofWorld, Jan 27, 2021
- How Loan Apps Weaponise Your Data to Make You Pay - Pallavi Pundir, Vice, Feb 1, 2021
- The unregulated tech supermarket powering India’s loan app scourge - Arundhati Ramanathan, The Ken, Mar 17, 2021 - CashlessConsumer Research
- #KillerLoanApps, Detecting Predatory fintech apps Slides - CashlessConsumer Payment Deepdives - Jan 10, 2021
- Loan terror in Digital India - NDTV Investigation - Jan 11, 2021
- Harassment by digital lending apps a matter of concern - Suno India Show with Srinivas Kodali - Dec 28, 2020
- Digital Loan Sharks - The Morning Brief, Economic Times Awaaz - Jan 19, 2021
- கடன் வழங்கும் செயலிகளிடம் சிக்குவது யார்? தப்ப வழி உண்டா? சட்டம் என்ன செய்கிறது? - Thozhar Podcast with Sindhan - Jan 19, 2021
- (Fake) Digital Lending apps & Collection Harassment - CashlessConsumer Blog, Nov 10, 2020
- (Fake) Digital Lending apps Database - CashlessConsumer Blog, Dec 28, 2020
- Tweets from:logic on #KillerLoanApps