#killerloanapps — Public Fediverse posts

A.P. police to take Interpol’s help to arrest loan app organisers abroad #KillerLoanApps https://www.thehindu.com/news/national/andhra-pradesh/ap-police-to-take-interpols-help-to-arrest-loan-app-organisers-abroad/article66011049.ece

A.P. police to take Interpol’s help to arrest loan app organisers abroad #KillerLoanApps https://www.thehindu.com/news/national/andhra-pradesh/ap-police-to-take-interpols-help-to-arrest-loan-app-organisers-abroad/article66011049.ece

#KillerLoanApps - @RBI @DasShaktikanta being numb even after "last week's incidence of a young pregnant woman being mowed down by the recovery agents of Mahindra Finance which financed her father's tractor in Bihar."
---
RT @dna
#RBI warns against the mushrooming of #digitallending apps, wants to follow rules

https://www.dnaindia.com/personal-finance/report-rbi-warns-against-the-mushrooming-of-digital-lending-apps-wants-to-follow-rules-2987174
https://twitter.com/dna/status/1572865637231505411

#KillerLoanApps - @RBI @DasShaktikanta being numb even after "last week's incidence of a young pregnant woman being mowed down by the recovery agents of Mahindra Finance which financed her father's tractor in Bihar."
---
RT @dna
#RBI warns against the mushrooming of #digitallending apps, wants to follow rules

https://www.dnaindia.com/personal-finance/report-rbi-warns-against-the-mushrooming-of-digital-lending-apps-wants-to-follow-rules-2987174
https://twitter.com/dna/status/1572865637231505411

Neither anyone in @RBI was accountable for dozens of #KillerLoanApps deaths nor anyone from #BullyStack for hundreds / 1000s left hungry without food for their botched up stackware
---
RT @CRC4D
Australia. New chapter in The Identification Contrarevolution

Royal Commission to investigate Robodebt stupidity.

Refer @cgd, @WorldBank #ID4D (uh, "End Poverty"). A similar governance-on-stack-steroids sunk the Dutch government.

https://www.thegu…
https://twitter.com/CRC4D/status/1562995241069596677

Neither anyone in @RBI was accountable for dozens of #KillerLoanApps deaths nor anyone from #BullyStack for hundreds / 1000s left hungry without food for their botched up stackware
---
RT @CRC4D
Australia. New chapter in The Identification Contrarevolution

Royal Commission to investigate Robodebt stupidity.

Refer @cgd, @WorldBank #ID4D (uh, "End Poverty"). A similar governance-on-stack-steroids sunk the Dutch government.

https://www.thegu…
https://twitter.com/CRC4D/status/1562995241069596677

https://techpolicy.press/mexican-loan-apps-extortion-and-the-google-play-store/

#KillerLoanApps in Mexico. The coordination of central banks and @Google in being complicit is spectacularly similar across developing economies. This is war/loot on poor that's aided by big finance and big tech.

https://techpolicy.press/mexican-loan-apps-extortion-and-the-google-play-store/

#KillerLoanApps in Mexico. The coordination of central banks and @Google in being complicit is spectacularly similar across developing economies. This is war/loot on poor that's aided by big finance and big tech.

So much words to say - we will not regulate #KillerLoanApps / digital lending - only advice from distance.

In the recommendations of WGDL accepted by @RBI - RBI in itself - doesn't collect *any* data about Digital lending apps. If you don't have data - pontifying is useless

So much words to say - we will not regulate #KillerLoanApps / digital lending - only advice from distance.

In the recommendations of WGDL accepted by @RBI - RBI in itself - doesn't collect *any* data about Digital lending apps. If you don't have data - pontifying is useless

RBI is protecting, only after customers are also dead. #KillerLoanApps
---
RT @Ravisutanjani
@adi_thatipalli Recent developments

• Restricted Mastercard, Amex, Diners etc from onboarding new customers due to data localisation

• Paytm Payments Bank

• PPI BNPL guidelines

• Card Tokenisation, Recurring Subscription etc

Businesses might cry but RBI is indeed protecting consumers.
https://twitter.com/Ravisutanjani/status/1548240207098814464

RBI is protecting, only after customers are also dead. #KillerLoanApps
---
RT @Ravisutanjani
@adi_thatipalli Recent developments

• Restricted Mastercard, Amex, Diners etc from onboarding new customers due to data localisation

• Paytm Payments Bank

• PPI BNPL guidelines

• Card Tokenisation, Recurring Subscription etc

Businesses might cry but RBI is indeed protecting consumers.
https://twitter.com/Ravisutanjani/status/1548240207098814464

RazorPay (and other payment aggregators) got well trained in blocking - during the #KillerLoanApps - that they just deactivate without any formal communique / court order.

Will @Razorpay put a transparency dashboard on LEA requests that come with order / oral LEA requests?
---
RT @kavita_krishnan
Police requests, @Razorpay promptly obeys - and THEN gets clarity & undoes the damage. When your first instinct is to obey the police, …
https://twitter.com/kavita_krishnan/status/1544190800262987776

RazorPay (and other payment aggregators) got well trained in blocking - during the #KillerLoanApps - that they just deactivate without any formal communique / court order.

Will @Razorpay put a transparency dashboard on LEA requests that come with order / oral LEA requests?
---
RT @kavita_krishnan
Police requests, @Razorpay promptly obeys - and THEN gets clarity & undoes the damage. When your first instinct is to obey the police, …
https://twitter.com/kavita_krishnan/status/1544190800262987776

1. The government is hardly working on #KillerLoanApps. 2.5 years is half a term - and they haven't banned anything but few NBFCs yet.

2. The harms of #DigitalLending are borderless - So Chinese / Indian - all the same.
---
RT @ratneshkumar684
The government is working hard to ban Chinese apps from disbursing loans and harassing/blackmailing people, and here is ZestMoney looting customers. No doubt, I am capable. I can pay the 560…
https://twitter.com/ratneshkumar684/status/1539159680395915264

1. The government is hardly working on #KillerLoanApps. 2.5 years is half a term - and they haven't banned anything but few NBFCs yet.

2. The harms of #DigitalLending are borderless - So Chinese / Indian - all the same.
---
RT @ratneshkumar684
The government is working hard to ban Chinese apps from disbursing loans and harassing/blackmailing people, and here is ZestMoney looting customers. No doubt, I am capable. I can pay the 560…
https://twitter.com/ratneshkumar684/status/1539159680395915264

#KillerLoanApps - @RBI inaction in having any sort of regulatory supervision is leaving everyone as suspect and go through pain.

I wish the funded startups in lobby groups that promote self regulation get this ED treatment.
---
RT @livemint
#MintPremium | Around 15-20 fintech firms have got a reprieve, including Pagarbook, Progcap and Krazybee, an official aware of the matter said.

(By @artijourno)

https://www.livemint.com/news/india/…
https://twitter.com/livemint/status/1534698749267570689

#KillerLoanApps - @RBI inaction in having any sort of regulatory supervision is leaving everyone as suspect and go through pain.

I wish the funded startups in lobby groups that promote self regulation get this ED treatment.
---
RT @livemint
#MintPremium | Around 15-20 fintech firms have got a reprieve, including Pagarbook, Progcap and Krazybee, an official aware of the matter said.

(By @artijourno)

https://www.livemint.com/news/india/…
https://twitter.com/livemint/status/1534698749267570689

#KillerLoanApps
---
RT @artijourno
Clean-up exercise!
RBI cancels registrations of five NBFCs over unfair lending practices. Also, listed loan apps these NBFCs were powering.
https://twitter.com/artijourno/status/1529466861217140737

and @RBI did 2 public consultations and did nothing to introduce competition. #NUE

or yet to regulate the #KillerLoanApps after 2 full years and few dozen suicides.

The regulatory capture is hurting *everyone*. They will also shoot on their own foot soon.
---
RT @nixxin
RBI did no public consultation regarding recurring payments. Market suffered. Ditto data localisation.

CERT-in didnt reg cybersecurity directions. Market is going to suf…
https://twitter.com/nixxin/status/1527532189440544768

#KillerLoanApps
---
RT @thenewsminute
From today, personal loan apps need to give #Google extra proof of eligibility
https://www.thenewsminute.com/article/today-personal-loan-apps-need-give-google-extra-proof-eligibility-163829.
https://twitter.com/thenewsminute/status/1524308990221746176

Do not download loan apps, Do not take loans. #KillerLoanApps

Do not engage with #BFSI sector - for they are such a scam.
---
RT @CyberCrimeshyd

https://twitter.com/CyberCrimeshyd/status/1523144017948868608

Money laundering, extortion, morphing, illegal gambling, WhatsApp spoofing, personal data exfiltaration - Just a small list of crimes that go along with #KillerLoanApps - This is the cost at which fintech growth / digital lending is being happening.

Blood in everyone's hands

#Killerloanapps blood is on your hands @RBI stay blessed.
---
RT @being_thamarai
Firend Online app ல பெரிய amount கடன் வாங்கிருந்தான் கடைசி 10 ஆயிரம் கட்டலனு அவன் Wife போட்டோவ porn photo ல மார்பிங் பண்ணி அவன் contact ல இருக்க எல்லாருக்கம் அனுப்பிட்டான் அவமானம் தாங்காம suicide பண்ணிட்டான்
Twin girl babies பிறந்து 50 நாள் தான் ஆகுது watha 😭
https://twitter.com/being_thamarai/status/1513892185468542985

The obsession for 'eyeball catching' videos (as against data that reveal much more) is worrysome. Been facing this on #KillerLoanApps stories with multiple reporters.

We know where 10-minute loans have led to. #KillerLoanApps
---
RT @prasanto
Any thoughts on 10-Minute Surgeries? How about 10-minute doctor appointments?

"10 dollars 10 minutes" - I recall that was the USP of the hair salon I'd gone to a decade or so ago in Singapore. Worked very nicely. (Was SGD 10, and yes, in and out in ten min)
https://twitter.com/prasanto/status/1506470944944099335

#WorldConsumerRightsDay #FairDigitalFinance #HallOfShame - Abuse enabler award goes to @ADVANCEAI_ for enabling facial recognition and facial multi loan score data provider to every one of the abusive #KillerLoanApps

https://www.youtube.com/watch?v=VY1PQfu4PKc - 2021 edition of #KillerLoanApps harassment include threats (and extortion) of morph porn for women, honey trap for men

Remember #TekFog tactic of Whatsapp hijack? #KillerLoanApps harrasers are now using the same tactic of using WA hijacked numbers for extortion. cc @iam_anandv

@WhatsApp has a serious problem here

So @ADVANCEAI_ - a major beneficiary of #KillerLoanApps has amassed 10M records and are running a parallel credit scoring database.

What CIBIL? Who will regulate these? At least you can see your data getting abused by Dhani in credit report. There are no credit reports here

0.1 M USD was the running rate of NBFC shopping that led to #KillerLoanApps

#Dhani is not an isolated case, the problem is structural. From #KillerLoanApps to #GhostLoans - #DigitalLendingWatchTower will track them all - Follow https://hasgeek.com/cashlessconsumer/digital-lending-watchtower/

Loan app transfers your secrets to crooks http://toi.in/6H-T0a/a24gj via @timesofindia #KillerLoanApps

https://www.youtube.com/watch?v=SU_I5BojVic Live now
---
RT @logic
Join #CashlessConsumer #DigitalLendingWatchTower panel discussion on Consumer Protection in #DigitalLending and put an end to #KillerLoanApps. Today 430 PM RSVP - https://hasgeek.com/cashlessconsumer/digital-lending-watchtower/
https://twitter.com/logic/status/1482188011987402753

Join #CashlessConsumer #DigitalLendingWatchTower panel discussion on Consumer Protection in #DigitalLending and put an end to #KillerLoanApps. Today 430 PM RSVP - https://hasgeek.com/cashlessconsumer/digital-lending-watchtower/

#CashlessConsumer What does the @RBI Working group report on #DigitalLending in the aftermath of #KillerLoanApps talk about consumer protection?

Hear @artijourno @benichugh @prasanto Ravi Sethia discuss on #DigitalLendingWatchTower panel, Sat 430 PM RSVP https://hasgeek.com/cashlessconsumer/digital-lending-watchtower/
---
RT @logic
#CashlessConsumer #KillerLoanApps
https://medium.com/cashlessconsumer/digital-lending-observatory-feedback…
https://twitter.com/logic/status/1477844309810597893

How do we get to endgame of #KillerLoanApps ? Join #CashlessConsumer #PaymentDeepdives, Sat Jan 15, 430 PM as we discuss #DigitalLendingWatchTower and consumer protection in digital lending.

RSVP - https://hasgeek.com/cashlessconsumer/digital-lending-watchtower/
---
RT @logic
In our response to the regulator, we highlighted the regulator's failure to take moral responsibility and how the report does little justice to the dozen lifes lost to…
https://twitter.com/logic/status/1477844311228260354

Check out #CashlessConsumer feedback to the @RBI working group report
---
RT @logic
#CashlessConsumer #KillerLoanApps
https://medium.com/cashlessconsumer/digital-lending-observatory-feedback-on-report-of-working-group-on-digital-lending-70f4d26999a0

Feedback on Report of #RBI Working Group on #DigitalLending — need for observatory.
https://twitter.com/logic/status/1477844309810597893

In our response to the regulator, we highlighted the regulator's failure to take moral responsibility and how the report does little justice to the dozen lifes lost to #KillerLoanApps

Full feedback - https://docs.google.com/document/u/1/d/e/2PACX-1vSd0qFhIKYWHLsgnordwVeBY0b_-LtpO0o2gywgBE5vTgnWN2VAVq06fPqCSqjd_fZYUH6CHqXKnR5g/pub

In our response to the regulator, we highlighted the regulator's failure to take moral responsibility and how the report does little justice to the dozen lifes lost to #KillerLoanApps

Full feedback - https://docs.google.com/document/u/1/d/e/2PACX-1vSd0qFhIKYWHLsgnordwVeBY0b_-LtpO0o2gywgBE5vTgnWN2VAVq06fPqCSqjd_fZYUH6CHqXKnR5g/pub

#CashlessConsumer #KillerLoanApps
https://medium.com/cashlessconsumer/digital-lending-observatory-feedback-on-report-of-working-group-on-digital-lending-70f4d26999a0

Feedback on Report of #RBI Working Group on #DigitalLending — need for observatory.

#CashlessConsumer will continue to cover #KillerLoanApps and seek structural solutions. There is a lot more work to do. Please stay tuned.

The level of penetration of Chinese entities is quite starkling. I really wonder why the government which felt TikTok / Game apps as a threat (rightfully so) *did not* find even a single #KillerLoanApps from China as a threat. It still hasn't blocked them

The starting point of this research was to attempt to map the #FaaS player ecosystem powering digital lending ecosystem and we took our database of #KillerLoanApps and analyzed their relation to technology and capital.

#CashlessConsumer research based story on The Ken on Fintech as a Service (#FaaS) players aiding #KillerLoanApps market making it child's play to launch a loan app.

(Paywall) - https://the-ken.com/story/the-unregulated-tech-supermarket-powering-loan-app/

Excerpts on the #Thread with our research artefacts

#CashlessConsumer A compilation of all our work related to #KillerLoanApps -https://www.cashlessconsumer.in/post/killerloanapps/

Primarily centre says states are responsible for preventing abuse by digital platforms, including misuse of social media .

This is interesting development
---
RT @logic
#KillerLoanApps #SansadWatch @GoI_MeitY washes its hands off citing 'police' and 'public order' are - STATE SUBJECTS - and further shares @GooglePlay policy as response to question by @Kanakmalbjp on action taken by the government on illegal payday loan apps.
https://twitter.com/logic/status/1357150698857631744

Primarily centre sys states are responsible for preventing abuse by digital platforms, including misuse of social media .

This is interesting development
---
RT @logic
#KillerLoanApps #SansadWatch @GoI_MeitY washes its hands off citing 'police' and 'public order' are - STATE SUBJECTS - and further shares @GooglePlay policy as response to question by @Kanakmalbjp on action taken by the government on illegal payday loan apps.
https://twitter.com/logic/status/1357150698857631744

Kerala FM @drthomasisaac in today's Budget speech announced state will modify Kerala Money Lending Act to address issues created by #KillerLoanApps in consultation with law department.

I wrote to FM on Jan 3 requesting this.

Thread
---
RT @Banbreach
Reading in between the lines of Google's blog post today on predatory lending apps -- a 🧵

TL;DR Too little, too late. #KillerLoanApps
https://twitter.com/Banbreach/status/1349688920573837313

After a weeklong Series on #KillerLoanApps in Manorama TV , Now the daily carry in-depth investigation by @Jikkuvarghese . The findings are similar lines of Cashless Consumer and the @TheKenWeb findings of Chinese App invasion.

This is not limited to #KillerLoanApps. We are going to see similar invasions in Agri segment, Farm loans etc as well.

Ask why WhatsApp policy change mostly affect Indians - reason - WhatsApp pay gets Financial info including Real Names, now sharable with Facebook via UPI.