Why did ED attach assets linked to operators of instant-loan apps
Enforcement Directorate's action regarding operators of instant-loan apps.
- Enforcement Directorate (ED) attached assets to investigate money laundering allegations against operators of instant-loan apps.
- The operators involved in these apps were accused of extortion, high-interest rates, and unscrupulous lending practices.
- Many borrowers complained of harassment and threats from these loan apps for failing to repay loans.
- There were reports of illegal use of personal data and privacy violations by these operators.
- The ED's action aimed to crack down on illegal lending practices and protect consumers from exploitation by these instant-loan apps.
Answered
8 months ago