Google India has been asked to deploy additional safeguards and alter its policies to ensure dubious loan apps do not misuse its Play Store platform. This came after Mumbai police found app developers and fintech companies that had floated instant loan apps with Chinese links, had allegedly used a series of loopholes in its app store.
According to sources, the city police recently chaired a meeting with representatives of Google India and asked them to tighten their systems to keep Chinese-linked instant loan apps at bay.
“During the course of the probe, it was found that there were certain loopholes in their system which were exploited by the accused while using Google to host either their links or mobile-based applications,” a senior police officer who is privy to the development told ET. This was brought to the notice of the company, and it was asked to put in the required safeguards so that vulnerable customers do not fall prey to dubious fintech companies or developers of suspicious apps offering instant personal loans, the officer said. Sources said Mumbai police cyber sleuths have asked Google not to allow the platform to be used by lenders who offer instant loans for fewer than 62 days.