[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]A 42-year-old resident of Rawalpindi took his own life after experiencing harassment and threats from representatives of digital lending apps.
The man initially borrowed a sum of money to cover his household expenses but soon faced escalating demands and constant threats.
He took another loan to repay the first one, but the interest continued to accumulate. The lenders allegedly threatened to leak the man’s personal data if he failed to repay the loan with the excessive interest. The Race Course police are investigating the case, which highlights the concerning issue of harassment by digital lending apps in Pakistan.
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The Securities and Exchange Commission of Pakistan (SECP) and the Competition Commission of Pakistan (CCP) have previously cautioned the public about the risks associated with these apps.
This incident marks a tragic outcome and underscores the need for authorities to take appropriate action to address such harassment and protect borrowers.[/vc_column_text][/vc_column][/vc_row]
