The Federal Competition and Consumer Protection Commission (FCCPC) has taken action against 18 digital loan apps operating on the Google Play store without regulatory approval or in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022.

In response to this, the FCCPC has instructed Google to immediately remove these apps from the Play store.

The Commission emphasized that only digital money lenders with regulatory approval are permitted on the platform.

The listed apps, including Getloan, Joy Cash-Loan Up to 1,000,000, Camelloan, and others, have been targeted for violating the guidelines.

The FCCPC has made it clear that compliance with its guidelines is mandatory for all digital money lenders, and any failure to comply will be treated as a violation of the law.

Violators may face permanent delisting, prohibition, and even law enforcement action, including prosecution.

The recent clampdown showcases the FCCPC’s commitment to curbing illegal digital lending operations and protecting consumers from potential harassment.