Over 420 alleged loan app operators have been detained

Business & Financial

There have been over 420 suspects detained who were operating loan app businesses.

As part of a joint Cyber Security Committee operation, the Cyber Security Authority, Bank of Ghana, and Economic and Organised Crime Office (EOCO) launched a swoop that led to the arrest of the suspects.

The joint operation included a raid on the offices of some suspected Greater Accra Region-based owners of digital lending apps (loan apps).

Cyberbullying, extortion, misuse of data and privacy, and, in the worst case, threats of death are all practices used by the owners of these apps.

This occurs at a time when some online loan reporters have been involved in numerous instances of debt-shaming defaulters.

According to a statement from the authority, “the three cooperating institutions launched a swoop in the early hours of Monday, July 10, 2023, as part of a Joint Cybersecurity Committee operation, which led to the arrest of over 420 suspects.”