Google Cracks Down: 2,200 Fake Loan Apps Removed

fake loan apps

Google has taken strict action against fake loan apps that cheat people and extort money. Between September 2022 and August 2023, Google removed more than 2,200 fake loan apps from the Play Store, the central government told Parliament.

The move is part of the central government’s ongoing plans to combat fake loan apps and protect consumers from financial scams.

Google has checked around 3500 to 4000 loan apps from April 2021 to July 2022. About 2500 apps were found to be fake and removed. Google will conduct the test from September 2022 to August 2023. Then 2200 loan apps were removed.

Currently, Google Playstore has strict restrictions on loan apps. Only those working in collaboration with banks or other organizations can now publish loan apps on Playstore. Along with that strict conditions must be followed.