Club warns loan seekers of fake mobile apps

The Digital Lenders Association of Kenya (DLAK) has warned mobile loan borrowers to be wary of fake money lending apps that have flooded the market. FILE PHOTO | NATION MEDIA GROUP

What you need to know:

  • The organisation has come up with guidelines as a way of helping thousands of digital borrowers identify these fake apps and to avoid being swindled.
  • "If you happen to bump on an app that is asking you to pay registration fee or what most call CRB fee beforehand, it's not a genuine app," says DLAK on its website.
  • Most of them will insist that when a borrower refers them to other potential borrowers, they will get points that will enable them to secure their first loan.

The Digital Lenders Association of Kenya (DLAK) has warned mobile loan borrowers to be wary of fake money lending apps that have flooded the market.

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