In a sweeping crackdown on digital financial fraud, the Cyber Security Authority (CSA) has blacklisted over 40 rogue loan apps for engaging in illegal practices, including blackmail, privacy violations, and harassment of borrowers.
These fraudulent loan applications—many of which were operating without proper regulatory approvals—have been found to threaten and coerce users for repayment, often using sensitive personal data.
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Between January and May 2025 alone, the Authority received 377 reports of abuse compared to the 228 cases recorded in 2024.
According to the Cyber Security Authority, the surge stems from aggressive and exploitative tactics employed by several mobile loan applications that operate outside legal and regulatory frameworks.
The move comes after mounting complaints from users who reported being blackmailed with personal photos and contact lists accessed by these apps.
Victims claim that these illegal loan apps would disburse small loans quickly but impose exorbitant interest rates and hidden fees.
The CSA, in a statement, said it has identified 48 such rogue apps currently operating in Ghana. Among them are Miniloan, Devtage Loan, Mix Loan, Ozzy Money-Cash, Plus Cash Arrow, Cash Arrow, FundsCredit, Lever Credit, Getloan, Upper Loan, Kcash, Bestloan, Gcash, DaraLoan, Loanbase, Taploan, Gh Loans, Sune Loans, Urgent Money, Sparkloan, Skyloan, Loancloudgh, and Pea Money, among others.
“These apps operate without legal backing and often disregard consumer protection laws. Engaging with them exposes users to serious risks, including data breaches, harassment, and financial loss,” the CSA cautioned in a statement.
