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Home Economy Finance

NDPC Launches Investigation into Over 400 Privacy Breaches by Digital Loan Apps

by Joan Aimuengheuwa
March 28, 2024
in Finance
0
NDPC Launches Investigation into Over 400 Privacy Breaches by Digital Loan Apps
Source: Freepik

Source: Freepik

UBA
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The Nigeria Data Protection Commission (NDPC) is currently investigating over 400 cases of privacy infringements linked to digital loan apps, an issue affecting users across the country. 

The commission, in its recently released 2023 Annual Report, noted the overly intrusive nature of these loan apps, which often gain access to users’ contacts, photos, messages, and other personal data, flouting fundamental principles of data protection and privacy.

Despite Google’s April 2023 policy aimed at curbing such breaches by restricting loan apps’ access to photos and contacts, the illicit practice continues, prompting the NDPC to intensify its efforts. 

Users report that lenders resort to tagging them as criminals and reaching out to contacts after defaulting on loan repayments.

Recognizing the systemic nature of these breaches, the NDPC is pursuing a multifaceted approach, collaborating with other regulatory bodies and third-party platforms utilized by these lenders. 

The commission is spearheading the development of the Nigeria Data Protection Act-General Application and Implementation Directive, which aims to tackle data breaches and enforce data ethics and privacy standards.

The NDPC is actively engaged in a joint effort with regulatory partners through the Joint Enforcement and Regulatory Taskforce to cleanse the digital lending sector of unethical practices. 

In a bid to enhance oversight, the Federal Competition and Consumer Protection Commission now mandates lending entities to secure data protection clearance from the NDPC before commencing operations.

These regulatory interventions come in response to mounting complaints and grievances from consumers, with Citizens’ Gavel, a consumer rights organization, lodging a formal complaint with the FCCPC against 30 unlicensed digital money lenders accused of employing coercive and illegal tactics to extract debts, including defamation and cyberbullying.

In the midst of these challenges, the NDPC is focused on bolstering privacy safeguards and ensuring stringent enforcement mechanisms to hold violators accountable. 

Stakeholders anticipate comprehensive regulatory measures to rein in rogue digital lending practices and safeguard the privacy and rights of Nigerian consumers.

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Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

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Tags: Loan AppsNigeria Data Protection Commission (NDPC)privacy infringements
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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