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Google swings into action to curb loan app scams in Pakistan

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In its bid to safeguard users in Pakistan against fraudulent and unregistered loan apps, Google has formulated a new screening policy for personal loan applications.

Effective from May 31, the policy mandates that only a single Digital Lending App (DLA) can be published by Non-Banking Finance Companies (NBFC). If developers found attempting to publish multiple DLAs will have their accounts and any associated accounts terminated.

This move by Google follows recent actions taken by the Federal Investigation Agency (FIA) against illegal finance companies involved in short-term online lending. The initiative was prompted by the tragic suicide of an unemployed man in Rawalpindi, who was unable to repay a loan.

Developers with personal loan apps targeting users in Pakistan must complete the Personal Loan App Declaration form and submit the necessary documentation before publishing their app.

They must submit proof of approval from the Securities and Exchange Commission of Pakistan (SECP) to offer or facilitate digital lending services in Pakistan.

Google Play will also request additional information or documents relating to loan app compliance with the applicable regulatory and licensing requirements.

Personal loan apps operating in Pakistan without proper declaration and license attribution will be removed from the Play Store. The developers must remove the app from the Google Play Store immediately if the submitted license, registration, or declaration is no longer valid under the applicable laws.

“Google is taking preventative measures by setting stringent requirements for Digital Lending Apps in order to reduce financial risk and ensure data privacy. We strongly believe that the new requirements imposed on developers of personal loan apps will provide an extra layer of protection for the users,” said Farhan S Qureshi, Google’s Pakistan director.

Under the new set of rules, a DLA is prohibited from accessing sensitive data, such as external storage, media images, contacts and fine location. Whereas apps offering short-term personal loans, requiring repayment in full within 60 days from the loan issue date, are not allowed.

Pakistan is one of a small group of countries where Google has implemented additional requirements for DLAs. The new policy update is a significant step towards safeguarding consumers from harmful financial practices and ensuring data privacy.

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Pakistan declares AI chatbots to be dangers to security.

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The National Computer Emergency Response Team (CERT) has released a security advisory concerning the increasing utilization of artificial intelligence (AI) chatbots, emphasizing potential hazards related to the exposing of private data.

The recommendation recognizes that AI chatbots, like ChatGPT, have gained significant popularity for personal and professional duties owing to their capacity to improve productivity and engagement. Nonetheless, the CERT cautions that these AI systems frequently retain sensitive information, so posing a danger of data breaches.

Engagements with AI chatbots may encompass sensitive information, such as corporate strategy, personal dialogues, or confidential correspondence, which could be compromised if inadequately safeguarded. The warning emphasizes the necessity for a comprehensive cybersecurity framework to alleviate concerns associated with AI chatbot utilization.

Users are advised against inputting critical information into AI chatbots and are encouraged to deactivate any chat-saving functionalities to mitigate the danger of unwanted data access. The CERT additionally advises performing routine system security checks and employing monitoring tools to identify any anomalous behavior from AI chatbots.

Organizations are urged to adopt rigorous security protocols to safeguard against possible data breaches resulting from AI-driven interactions.

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Unlawful VPNs: Terrorists Utilize Unregistered VPNs to Disseminate Propaganda

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Terrorists utilize illicit VPNs to disseminate propaganda and misinformation while concealing their identities.

Several accounts have been uncovered and are under investigation.

The cessation of non-registered VPNs is crucial for the nation’s economy.

The PTA is blocking illegal URLs and websites disseminating objectionable material upon verification.

Forensic investigations of websites have yielded startling results.

Disseminating erroneous information is more facile using unregistered VPNs.

Terrorists were exploiting these unverified VPNs.

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Air University Holds A Revolutionary Event For Students Focusing On Cybersecurity

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Air Marshal (R) Asad Lodhi has praised the Pakistan Cyber Security Challenge, an initiative by the Air University and Higher Education Commission that aims to train future cyber security experts and pioneers. At the opening ceremony of the two-day Pakistan Cyber Security Challenge, which took place at Air University in Islamabad, he was the chief guest.
Showdown challenges, the Ideas Cup, and the Pakistan Crypt Challenge are all part of the Pakistan Cyber Security Challenge, which lasts for two days.

Air Marshal (R) Abdul Moeed Khan, VC of Air University, made a speech praising the cyber security abilities of Pakistani youth, saying that they are among the best in the world and will help the country face cyber threats. A haven for cyber security excellence, he said, Pakistan Cyber Security Challenge 2024. Additionally, he praised the Air University for its innovative and outstanding work in this area.
At the inaugural ceremony of the Pakistan Cyber Security Challenge, Dr. Zia Ul Qayyum, executive director of the Higher Education Commission, also spoke to the crowd. He discussed how HEC has created a welcoming atmosphere and helped facilitate projects such as the Pakistan Cyber Security Challenge.
As part of the inauguration event, an MoU was also signed. Guests and participants were given souvenirs as the opening ceremony came to a close.

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