Asaan Qarza' Include in List with Other 74 Scam Loan Apps, SECP says

06, March , 2023

Newstoday: The Securities and Exchange Commission of Pakistan (SECP) warned the public on Saturday not to interact with bogus lending applications downloaded from the Google Play Store. Asaan Qarza is among 74 fraudulent loan programs that promise to be a "professional 100% online loan application" that provides cash and has been downloaded over a thousand times from Google alone.

These applications claim to provide users with simple loans at cheap interest rates. Users that install these applications grant access to their phone's data, including their photo gallery and contact list. When these apps are downloaded, they gain access to the user's personal confidential data.