The Ministry of Information Technology and Telecommunication (MoITT) has taken a significant step by launching a crackdown on illegal loan apps functioning in the country. According to media reports, as a result, 43 apps in this category have been promptly blocked. According to Federal Minister for IT and Telecommunication Syed Amin Ul Haque, the ministry has swiftly implemented instructions to block these apps. Additionally, the minister emphasized the importance of launching an awareness campaign to prevent people from falling victim to such fraudulent activities. The statement further stated that individuals should report complaints to relevant authorities including the PTA, FIA Cybercrime, and local police to take appropriate action against these illegal loan apps. According to MoITT, the IT minister has also made contact with the FIA with directions to take action against such elements instead of waiting for complaints. In a rising trend, many scammers are launching "easy loan" applications on Google Playstore and Apple iStore; however, as easy and convenient as the loans may seem — given that they do not require extensive paperwork — these applications are proving to be a menace to countless people.

 
Credit : Independent News Pakistan-INP