According to SECP, ‘Asaan Qarza’ is among 74 fake loan apps on Google Play Store

According to SECP, ‘Asaan Qarza’ is among 74 fake loan apps on Google Play Store

The image shows the Google Play Store logo. — Reuters/File

The Security and Exchange Commission of Pakistan (SECP) on Saturday advised the public not to bother with fake loan apps downloaded from the Google Play Store.

Asaan Qarza, which has been downloaded over a million times from Google alone, is one of 74 fake loan apps that claim to be a “professional 100% online loan application” that provides cash.

These apps claim to offer low-interest, easy loans to people. People who download these apps are given access to their phone’s data, including their photo gallery and contacts.

Once the applications are downloaded, they have access to the user’s personal data.

The financial regulatory authority announced Geo Fact Check that only 10 microloan apps are legal including Finja, Muawin, Credit Per, Easy PK Loan, Zoodpay & ZoodMall, Qisstpay CreditCat RazCash, Abhi, Barwaqt, Udhar-Paisa and Zaroorat Cash.

These applications are registered as non-banking financial companies by the SECP under the Companies Act, 1956.

“Apps are not included in the [above] lists are illegal,” said SECP Chief Spokesperson Musarat Jabeen Geo Fact Check via email: “The public is advised not to engage with illegal applications.”

The commission has identified 75 online apps that are considered to be scams, including Asaan Qarza, which the SECP wants to crack down on.

“To check the menace of illegal rental apps, the SECP has tied up with local regulatory authorities like PTA, FIA and SBP besides Google and Apple,” Jabeen added.

“In January and February, 75 unauthorized apps were reported to Google and Apple and removed from their app stores. Google has agreed to initiate a policy review to limit its platforms to licensed entities.

The spokesperson explained that these illegal apps engage in “predatory lending” behavior where they blackmail and harass borrowers, as well as data breaches that are subject to prosecution under the Electronic Crime Prevention Act 2016 and the Anti-Money Laundering Act 2010.

According to the rules, a digital lender is eligible to operate in the country if it has obtained the license and approval of the SECP and a certificate from the Pakistan Telecommunication Authority (PTA).

Furthermore, the applications cannot access the borrower’s phone book, contact list or photo gallery, even if the borrower has consented to this.

The list of illegal and disallowed apps is below:




1 360 Online Qarz Mahbubur technology
2 567 Quick loan Chunu technology
3 99 Fast cash loan Morsaline technology
4 Aasan Lab – Easy to use money Aco Startup
5 Apple Qist Qarz Rabeya technology
6 Asaan Qarza- Credit Loans S&P Fintech
7 Bee Cash Superthaliyou
8 BG loan: unsecured loans Shakhawat technology
9 CashCredit-Online Credit Tom Edler
10 CashPro – Instant Approval Cashpro technology
11 On loan MHLD studio
12 CredStar – Personal Loan Jingle Creed
13 Deposit camping (old name debtor camping) Iqtidar Hussain
14 Didi loans DidiLoans
15 Easy cash loans CapitalPoint Limited
16 Easy loans loan fast payment Boj Inc
17 Simple mobile loans Rapidpay applications
18 Fair loans Cemens Kft
19 Quick loan Lea of ​​Gibraltar
20 Fast Manne Credit Guide Quicksoft technology
21 FinMore- Online credit loans Simple digital technology
22 Fori instant loans to borrow
23 Fori Qarz online personal loan Fori Qarz Kft
24 Galaxy Loan Amrit Malwa
25 Get it now Get it now app
26 Get Welfare Naseem Technologies Ltd
Muhammad Imran
27 HamdardLoan Hamdard team
28 Harsha Tube- Fast Money Harsha Credit Bureau
29 Hayar Pocket Easy Base Hayar is a private company
30 JaidiCredit Adnan Rahim
31 LendHome Susan R Tabor
32 Small Cash – Mobile Loans Optipay Limited
33 LoanClub Quick Mob Pay Pvt. Kft
34 MiniHitel – Personal Online Loan
35 Money bee Mr. Arming Saelee
36 Money box Ejaz Hasan Mujawar (QistBazaar)
38 MY cash Arham Sarwar
39 MyCash It’s a chore
40 Naqad Qarza-ABC Khudeza technology
41 Payday loans Muhammad Noman Shaikh (Tech Productions)
42 Private loan-Online lending Fahad Nabeel
43 Pyoor Pack-Personal loan (old name: Pyoor Loan) Pyoor Credit Bureau
44 Qarza Pocket-Personal Funds (old name: Qarza Rupee) Qarza Rupee
45 QuickCash- Fast mobile loans StarLink-Tech
46 Rico Box – Simple online application RT first boot
47 Rose Cash- Borrow cash Khalid475
48 Sallam Loan- Online Loan App Paput
49 Excellent loans Excellent loan team
50 Swift Loans- Fast loan disbursement Platinum developer
51 Tazza Center – Get Money Soon Ali Asad Tanveer
52 TiCash Tcashwin
53 UrCash It’s a chore
54 Whale Dev Shubham
55 YoCash Ambrose 770250
56 Zenn Park – Simple instant help Zen Credit Bureau
57 ZetaLoan- Easy loan wallet ZetaLoan team
58 Money Club QPAY MBP PVT LTD
59 Super Magic – StableOnlineLoan Ganhewalage Anil Desapriya
60 Easy Pocket Dev Raja Kumar
61 Monii Pro – Quick Basics Monii Credit Studio
62 Holiday loan Rtyfgyau787
63 Credit Now – Secure loan application CreditNow
64 EasyLoan Lite – cash loan Aleaty Microfinance (Pvt) Ltd
65 Haath pocket Qarza Rupee
66 OK wallet OK wallet
67 ColeCash Sickle
68 Focus loan Cash CS
69 Pakistan Online Loan Application 2021 2D Arm
70 Wcash loan Geek Lab
71 Pakkicash Thanks Developer
72 LuckMoney LuckMoney
73 Candycash Candycash
74 Pakket Pocket- Instant Money Pakket Pocket Kft

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