Illegal mobile loan apps found

The Bank of Thailand has identified 10 mobile applications illegally offering personal loans and is working to have them removed from the App Store and Google Play Store. According to Pirajit Padmasuta, the central bank's senior director for financial consumer protection and financial service provider supervision, the regulator initially reported the 10 verified illegal apps offering personal loans, including Fineasy and Happy Loan, to the Personal Data Protection Committee (PDPC) under the Digital Economy and Society (DES) Ministry. The central bank expects to submit an official report to the DES Ministry this week, which will join with regulatory agencies to request Google Play Store take down these illegal apps, she said. Recently the PDPC provided the central bank with a list of 11 suspicious mobile apps from Google Play Store to verify whether they offered personal loans without ...