9ja Cash (Sokoloan) and data breach: When a loan app defames customers’ family as criminals
The economic hardship in Nigeria is pushing many families and consumers to patronize quick loan apps for financial help in terms of borrowing to meet daily obligations. The loan apps have become sharks and terror on their customers.
Many of the loan apps now send defaming and threatening messages to contacts of their customers who never were parties to the loan agreement, once there’s a suspicion of default. Some even before the loan repayment fall due, they start threatening families of customers who have collected loans. This is unethical
QUICK LOAN ARENA is compiling a list of all quick loan apps on Google Play Store that are invading the data privacy of their customers and sending blackmailing and threatening messages to their contacts whenever there is an alleged loan repayment default. Our second on the list is BorrowNow.
In our list of blacklisted loan apps in Nigeria, 9ja Cash which we understand is owned and managed by Sokoloan Lending Company, is gaining the fourth entry. We advise all Nigerian loan seekers to boycott the services of 9ja Cash loan app and avoiud them like a plague.
See the defaming message below 9ja Cash sent to the people in the contact list of one of its customers. This is umethical and unacceptable.
This is what Google says about data collected by apps on its Play Store:
You must be transparent in how you handle user data (e.g. information collected from or about a user, including device information). That means disclosing your app’s access, collection, use and sharing of the data, and limiting the use of the data to the purposes disclosed. In addition, if your app handles personal and sensitive user data, please also refer to the additional requirements in the ‘personal and sensitive user data’ section below. These Google Play requirements are in addition to any requirements prescribed by applicable privacy and data protection laws (in your domiciles country).
Furthermore most of these loan apps have tenure ranging from 7- 14 days, this is in breach of Google Policy on loan apps hosted on its Play Store and contravenes local laws in Nigeria. Hear what Google has to say on loan tenure:
We do not allow apps that promote personal loans which require repayment in full in 60 days or less from the date the loan is issued (we refer to these as “short-term personal loans.
Most of the digital lending platform have turned into loan sharks terrorising Nigerians with extremely high interest rate sometimes as high as 50% for 7 days tenure and then later harassing the consumers and their contacts with malicious and defamatory words even when it’s still a day to the loan expiration. This is unethical.
Finally most of the loan apps now charge illegal loan service fees while feigning to have low interest. This is unaccptable.
The National Information Technology Development Agency (NITDA) has also resolved to sanction and rein on loan apps and their lending platforms operating in Nigeria over these unethical practices of blackmailing and threatening consumers, their family members and their contact lists who were never parties to the loan agreement, whenever there is an alleged repayment default.
We appeal to all stakeholders to intensify the effort at cracking down on these defaming loan apps and ensure they comply with local laws or be shown the way out.
Google should respect Nigerian local lending laws and remove any contravening loan app that are breaching the data privacy of Nigerians or in contravention of its Play Store policies.
This is the link to 9ja Cash on Google Play Store. Nigerian consumers and quick loan seekers should boycott this app.
DATA PRIVACY BREACH: LIST OF BLACKLISTED LOAN APPS IN NIGERIA
4. 9ja Cash (Owned by Sokoloan Lending Company)
BECOME QUICK LOAN ARENA BUSINESS PARTNER
Register to become our business partner and enjoy our free advisory and consultancy services on getting a quick loan from our list of accredited lending partners and also guide on the process of loan application.
Disclaimer: Quick Loan Arena is not a loan agency and we do not give out loan to anybody. We however profile and review legitimate and reputable loan agencies and seeks to educate individuals, household and small businesses about loan opportunities to help them make informed decisions and establish their businesses.
Speak with any of our Quick Loan Consultants for more information! Call or Whatsapp Speak with any of our Quick Loan Consultants for more information! Call or Whatsapp +234 (0) 915 382 1578.
Do remember to give us a feedback about your quick loan experience after the lending process is executed.
READ ALSO! Palmcredit: Get Quick Loan Up To N300,000!