Despite being a security risk, this fraudulent loan app operating in Pakistan.
WeCash is a lending app that pretends to be Pakistani but is really from another country. Not to mention how similar it is to other unauthorized applications on the Google Play Store.
The information comes once again from Intelligence Analyst Zaki Khalid, who uploaded a thread on Twitter detailing WeCash’s suspicious behavior.
The app has been available on the Google Play Store since September 2021 and has had over 100,000 downloads to far, including 40,000 in June 2022 alone. It now has a rating of 2.8/5 stars in the app store, with most users complaining about difficulties obtaining loans. Le Thuy Dung, the app’s publisher, is a common female name in Vietnam.
Another lending app with a Vietnamese name has been idle for a long time, according to the creator. The developer’s Facebook page, on the other hand, has three administrators, all of whom are headquartered in China rather than Pakistan or Vietnam.
Read Also: In India, Google has blocked over 2,000 loan giving apps.
The app’s rules are also confusing. WeCash claims that it may reveal any information to other parties, although its disclaimer on the Google Play Store explicitly states that it will not do so. It also states on its Play Store website, “The developer does not offer a means for you to request that your data be deleted.”
In his post, Zaki makes a good argument, stating that the software may be very harmful if loaded by a government official or an army officer since vital information might be stolen.
We contacted Zaki for an official statement on the incident. Here’s what he had to say about it:
The majority of them are ‘white label’ applications headquartered in or originated in China. They collaborate with people in Pakistan to promote their applications via sponsored films by hobbyist bloggers. These applications seek advantage from Pakistan’s lack of regulatory infrastructure and data protection legislation.
It’s unclear if Google or Pakistani officials will take action against WeCash or other similar applications. We attempted to contact the app publisher, but have received no answer so far. There is no method to reach them on their own website.
