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Google bans personal loan apps from accessing user contacts

Google is banning Android apps offering personal loans from accessing users' sensitive data, such as photos and contacts.

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Google bans personal loan apps from accessing user contacts

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

From the end of May, Google Play apps providing personal loans will not be allowed to access the handset's external storage, photos and videos, contacts, precise location and call logs.

According to TechCrunch, there have been multiple reports of debt collectors using information such as contacts to harass borrowers.

In a policy update, Google states: "For the purposes of this policy, we consider financial products and services to be those related to the management or investment of money and cryptocurrencies, including personalized advice.

"If your app contains or promotes financial products and services, you must comply with state and local regulations for any region or country that your app targets - for example, include specific disclosures required by local law."

In Kenya, Google removed hundreds of loan apps from the Play Store, while in India, more than 2000 apps had to be taken down following alerts from law enforcement and central banks.

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Comments: (1)

Ketharaman Swaminathan

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

Good move by Google especially since it has released an app that enables "banks and credit providers to remotely lock a mobile phone if the user fails to make installment payments." ~ Finextra

I'm sure bricking a phone will be a more effective way of recovering loans than calling up random people on borrower's phone book and harassing them. 

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