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Instant App-based loan fraud: ED summons senior executives of Google

The agency's Hyderabad office is probing 38 non-banking financial companies (NBFCs) and over 300 fintech firms under the anti-money laundering law

fraud probe
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Shrimi Choudhary New Delhi
The Enforcement Directorate (ED) on Tuesday summoned senior executives of Google and sought a detailed list of micro-lending apps operational in the country, as part of its ongoing investigation into instant app-based loan frauds.

“Executives at Google, Hyderabad, were called today to provide a list of all such mobile apps in order to verify them through the Google Play Store,” said a person in the know.

The agency’s Hyderabad office is probing 38 non-banking financial companies (NBFCs) and over 300 fintech firms under the anti-money laundering law for providing instant micro-financing using mobile apps and seeking high interests from defaulters.

The agency suspects

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