A new type of scam has been affecting hundreds of people in different countries around the world. The economic difficulties and the arduous requirements of the banks to request some credit have made loan applications take advantage of the needs of people to seduce them with tentative offers that, although at first, seem to be the solution to all problems, at In the end they end up being a true martyrdom full of bullying that seems to never end.
- The rise of digital loan apps
- Harassment of victims of digital loans
- What are the authorities doing?
- The importance of being careful with our data
- Encriptados protects you at all times
The rise of digital loan apps
In recent years, digital loan apps have experienced exponential growth. These apps offer a quick and easy way to get loans, without the bureaucracy and strict requirements of traditional banks. Through the download of an app and a few clicks, users can apply and receive loans in a matter of minutes. However, this ease of access has also brought with it a series of risks and challenges as apps request access to your contacts, location and cell phone metadata which they use then to harass people.
Users who request this type of loans have said that the applications offer a period of 90 days to start paying the debt, however once they disburse only a couple of days pass before they begin to charge the money in a threatening and intimidating way; To which in many cases commissions and other items are added that end up increasing the total value of the loan.
Harassment of victims of digital loans
Another serious problem associated with digital loan apps is the harassment and intimidation suffered by people who cannot pay their loans on time. These apps often employ aggressive debt recovery practices, using constant phone calls, threatening messages and harassment tactics to put pressure on borrowers.
One of the intimidating techniques used by this type of app is to start sending messages to all the user’s contacts, family and friends, with “Wanted” texts for being a thief and for refusing to pay, threatening even to open a criminal process. Some contacts of victims have stated that the harassment even reaches points where the applications are merciless with the contacts to help pressure the person to pay.
This type of bullying can have serious consequences for the mental and emotional health of those affected. Many times, harassers take advantage of a borrower’s vulnerability and use abusive tactics to intimidate them into making even much larger payments than they actually requested.
What are the authorities doing?
In many countries, data protection and financial regulatory authorities are beginning to pay more attention to digital lending apps and the associated concerns about data security and borrower harassment.
This is due to the large number of complaints of harassment and bad practices that are coming from thousands of affected people and the improper collection of data that these types of apps are carrying out. Governments are expected to take action and start banning these apps.
The importance of being careful with our data
In an increasingly connected world, it is crucial that we are aware of the importance of protecting our personal data and take steps to safeguard our privacy and not be swayed by money or economic necessity, as in the end, the cure may be worse than the disease.
Before downloading any kind of app, it’s important to research where it’s coming from, read other people’s reviews and check how legit it is. In the same way, always read the privacy policies and do not download apps just because of an advertisement you saw or because they are offering you an easy way out, always remember the premise that “Not everything that glitters is gold”
Finally, be careful with the data you share and provide, never provide personal information that is not extremely necessary and avoid giving permissions to any application or social network. Remember that your data and privacy are your greatest assets.
Encriptados protects you at all timesAt Encriptados we are committed to the privacy, security and tranquility of users, which is why, in addition to seeking to train and educate people with good digital security practices, we also have a wide range of solutions that seek to bring cybersecurity closer to anyone, with products like Encrypted Sim Cards, Encrypted Applications and Encrypted cell phones.