Google suspends 2,500 Deceptive Apps Infiltrate Play Store.
Nirmala Sitharaman the finance minister declared that Google Play Store would only permit apps published by regulated entities or those collaborating with regulated entities. The government, in response to Parliament queries, disclosed that Google scrutinized approximately 3,500 to 4,000 loan lending apps between April 2021 and July 2022.
Following up Google suspends 2,500 Fraudulent apps on Play Store
When addressing measures to counter the risks associated with fraudulent loan apps, Sitharaman highlighted the government’s continuous collaboration with the Reserve Bank of India (RBI) and other relevant regulators. The Financial Stability and Development Council, chaired by the finance minister, consistently addresses and oversees the issue during its meetings.
Google suspends
Sitharaman emphasized Google‘s revised policy for enforcing loan lending apps on the Play Store. According to the updated policy, only apps published by regulated entities or those collaborating with regulated entities are allowed on the platform.
Furthermore, she mentioned the role of the Indian Cyber Crime Coordination Centre (14C) under the Ministry of Home Affairs, which regularly analyzes digital lending apps. The 14C team assesses these apps based on various parameters and reports suspicious findings to the Ministry of Electronics and Information Technology for blocking.
In efforts to enhance cybersecurity and financial literacy, the RBI has implemented measures such as the electronic-banking awareness programme (e-BAAT) and various initiatives focusing on fraud awareness and financial education. These include the development of a financial education framework in schools, financial literacy week, and awareness campaigns through SMS, radio, and social media. Handbooks catering to different audiences are also being published to spread awareness about cybercrime.
