4 online lenders banned, applications removed

0

The National Privacy Commission has ordered the immediate removal of four online loan applications (OLAs), JuanHand, Pesopop, CashJeep and Lemon Loan to protect borrowers’ data privacy rights. Privacy Commissioner Raymund Liboro said the orders banning the four apps “are critical to preventing serious privacy risks and protecting and preserving the privacy rights of those affected.” “These online lending applications have raised many red flags and companies that operate these applications demonstrate problematic actions on data that expose borrowers to serious privacy risks and harms,” ​​he said. added. The apps have been the subject of various complaints of unauthorized use of personal data which have resulted in the harassment and shame of borrowers and are currently under investigation for breach of data protection law and data protection. ‘other provisions of the NPC. The NPC said the apps have had access to a wealth of information in borrowers’ mobile devices, including social media contacts and data, which is excessive and can be used to harass and shame delinquent borrowers before. people on the contact list of their mobile devices to collect debts. In four separate orders, the NPC ordered Wefund Lending Corporation, Joywin Lending Investor Inc., Cash8 Lending Corporation and Populus Lending Corporation, respectively operators of Juan Hand, Lemon Loan, CashJeep and Pesopop, to stop processing their files. borrowers. personal data. The Commission said the apps engaged in “irrelevant, unnecessary and excessive” collection of personal and sensitive information without the free and informed consent of borrowers. The NPC provided copies of the orders to the National Telecommunications Commission (NTC) to take the four apps off the internet and to Google LLC to remove them from the Google Play Store. The Commission issued the orders based on the findings of the NPC’s Complaints and Investigations Division (CID) which examined the applications and found that they violated the principles of transparency, legitimate purpose and proportionality of the application. Data Protection Law of 2012 and the publication of the NPC on the Processing of Personal Data for Loan-related Transactions (NPC Circular No. 20-01).

All 4 apps had access to virtually all of a borrower’s mobile device data, according to NPC’s CID, which simulated the loan applicant registration process and evaluated source codes. Applications can process information ranging from a borrower’s sensitive personal data, location, photos, media files, emails, contact lists and data from social media platforms such as Facebook, Instagram and Google. The companies operating these apps were given the opportunity to respond to the NPC’s findings, but two of the apps failed to file a position, while the other two failed to convince the Commission why it should not. impose the ban. The ban remains in force until lifted by the Commission. Meanwhile, the AFN continues to investigate the possible criminal liability of directors, officers and agents of OLA operators. The CID said it was investigating OLAs amid numerous complaints against them. According to Google statistics, JuanHand has been downloaded over a million times; Lemon Loan and Pesopop, more than 500,000 times each; and CashJeep, over 100,000 times. The AFN is currently investigating and investigating over 200 OLAs available for download and will issue orders and other actions based on the results of the investigation.

DISCLAIMER: Reader comments posted on this website are in no way endorsed by The Standard. Comments are the opinions of thestandard.ph readers exercising their right to free speech and do not necessarily represent or reflect the position or point of view of thestandard.ph. While reserving the right in this post to remove comments deemed offensive, indecent, or inconsistent with The Standard’s editorial standards, The Standard cannot be held responsible for any false information posted by readers in this comments section.


Source link

Leave A Reply

Your email address will not be published.