Google: From May 31, or today, Google will impose tough regulations on personal lending apps that defraud users by providing false information. Users fall into the trap set by these apps. Google is developing a personal loan policy that will safeguard consumers’ private information. According to the firm, access to sensitive information like images and contacts has been restricted for apps that offer personal loans or whose primary function is to create leads. External storage, media files, contacts, locations, phone numbers, and movies won’t be accessible to them.
What does Google have to say?
This policy applies to apps that provide direct lending, generate leads, and connect users with third-party lenders, according to Google. Google is making every effort to save us all. But we must all exercise caution.
How to save yourself from such scams?
- You must exercise caution if you receive a message offering a loan along with a link. Any such link shouldn’t be clicked.
- You should exercise caution if any app is promising you a loan at a low-interest rate. Such low offers need to be verified twice.
- Any loan app you download from the Google Play Store or the App Store will ask you for permission to access your personal information, such as your contact list and photo gallery. You shouldn’t trust any app that requests your personal information if it does so.
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