The Rise of Bogus Loan Apps: How to protect your privacy in the digital era?
Juma Malyunga
I Help Brands and Professionals Stand Out With Powerful Digital Strategies | Digital Marketing Strategist | Social Media Manager | Content Writer
Have you ever come across ads for quick loan services on social media or other websites that promise you access to loans within just five minutes like “PATA MKOPO CHAPCHAP WA HADI TSH 1,000,000/=? NDANI YA DAKIKA 5?” If so, you're not alone.
However, not all loan apps are created equal, and some of them may not be as trustworthy as they seem. Here's how it works: ??
When you click on the ad, you'll be directed to download their apps called MKOPOCHAP, MKOPOX, PESAMKONONI, KOPAX and other similar names from the Google Play Store. Then, you'll need to input your details, including your contacts, your guarantors' contacts, a passport-like photo, and a copy of your National Identification Card (NIDA).
Once you've entered your information, you can apply for a loan, which may be as low as 15,000 TZS or higher. However, don't be surprised if you receive a message stating that you don't meet the criteria for the loan and that you should try again in 24 hours. The truth is, that some of these so-called loan apps are nothing more than data thieves who have tricked you into sharing your personal information.
On the other hand, there are some legitimate loan apps which can be a great help when you need sudden financial assistance. So how can you tell the difference between a trustworthy app and a fraudulent one? The answer is simple: you need to be cautious and do your research before entering your information into any app or website. To protect your privacy in the digital age, it's essential to be aware of the risks of sharing personal information with unknown parties.
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It is also essential that the relevant authorities, such as the Tanzania Communications Regulatory Authority ty (TCRA), should take action to investigate these bogus loan apps to ensure that they're not putting citizens' data at risk. Failure to do so, as a result, we continue to receive scam messages every day on our phones saying "TUMA HELA KWA NAMBA HII, SIMU YANGU MAIKI MBOVU” or ”MIMI MWALIMU MKUU, MTOTO WAKO AMEZIDIWA SHULENI, TUMA ELFU 50 APATE HUDUMA YA KWANZA”.?
So, the next time you're tempted to apply for a loan via an app or website, make sure you're dealing with a trustworthy provider. And remember, if something seems too good to be true, it probably is!