Digital Lending WatchTower - #KillerLoanApps Predatory digital lending apps

Look into the operations of fly by night abusive digital ‘lenders’ and ‘fake’ fintech apps

As the pandemic induced economic slowdown is causing job losses, there have been a spurt in rise of digital lending, particularly small ticket size digital loan apps and their strong arm recovery tactics of cyber bullying, social shaming have led to several suicides. A closer look into these digital lending apps have brought to notice about range of illegalities around their operations. The session aims to break down these and give an overview on how to go about detecting these predatory fintech apps, their practices and also discuss potential solutions, including use of Supervisory Tech - with a demo.

Session Outline

• Background - Digital Lending in India
• Modus Operandi of abusive digital lenders.
• Detection of Fake / Rogue fintech apps
• Database of apps, entities
• SupTech Solutions using OSINT / Demo

Who should participate:

• Practitioners from fintech, OSINT, including engineers and product managers.
• Bankers, Law enforcement executives, payment system participants.
• Journalists who report on Fintech frauds, money laundering, cyber security.
• Anyone interested in knowing more about app based loans, alternate credit scoring, data practices and digital lending, use of OSINT as supervisory tech.

About the Speaker:

• Suman Kar is CEO, Banbreach, a cybersecurity company working on securing individuals and organizations in an increasingly hostile digital world through a combination of network security products and services.

About CashlessConsumer: CashlessConsumer is a consumer collective working on digital payments to increase awareness, understand technology, produce / consume data, represent consumers in policy of digital payments ecosystem to voice consumer perspectives, concerns with a goal of moving towards a fair cashless society. Read more on the website, blog, follow @cashlessconsumer on Mastodon, join our chatter group on Telegram and watch our older conversations on Youtube

See Also

• Operation Hafta Vasooli
• Google removes 5 rogue lending applications
• A new era for Credit Scoring