Rest of World: Loan apps ruined their reputations. A shady online market offered to repair them

Rest of World: Loan apps ruined their reputations. A shady online market offered to repair them. “The economic condition in Nigeria has caused an increase in the demand for soft loans, which come with high interest rates and short repayment periods, often only a week or two. As collateral, the apps ask for financial details, and access to read private data such as users’ location, media files and photographs, and contacts. When people fail to repay at the given time, the apps respond by sending messages threatening litigation, defamation, and even voodoo attacks.”

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