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Concerted steps needed to curb fake digital apps: FACE CEO Sugandh Saxena

All apps, including legal ones with sophisticated cyber security protocols, are prone to fraud and cyber threats, said Saxena

Fintech sector | Fintech regulations | cyber security

Raghu Mohan 

Sugandh Saxena
Sugandh Saxena, chief executive officer of the Fintech Association for Consumer Empowerment (FACE).

Fake apps have emerged as a significant threat in the digital lending ecosystem, with the potential to shake public confidence in the channel, at a time when digital payments have taken off in a big way in the effort to foster financial inclusion. SUGANDH SAXENA, chief executive officer of the Fintech Association for Consumer Empowerment (FACE) — an industry association that recently applied to the Reserve Bank of India to become a self-regulatory organisation — spoke with Raghu Mohan on the concerns over fake apps. Edited excerpts:



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First Published: Sun, June 19 2022. 18:34 IST