Another day, another dubious “Pakistani” app. WeCash is a loan app that claims to be Pakistani but has foreign origins. Not to mention it is also awfully similar to other unlicensed apps on Google Play Store.
Once again, the report comes from Intelligence Analyst Zaki Khalid who shared a thread on Twitter that details WeCash’s suspicious practices.
https://twitter.com/misterzedpk/status/1547704442312462338?t=RHOtUNpPkuubTdDOQZo1kA&s=31
The app has been on Google Play Store since September 2021 and has over 100,000 downloads to date with 40,000 in June 2022 alone. It is currently rated at 2.8/5 stars on the app store with most people complaining about issues with obtaining loans.
The app’s publisher is called Le Thuy Dung, which is a popular female name in Vietnam. The developer has another loan app with a Vietnamese name, but it has been inactive for a long time. The developer’s Facebook page, however, has three admins, all of whom are based in China instead of Pakistan or Vietnam.
There are also contradictions in the app’s policies. WeCash says that it may disclose any information to third parties, but its disclaimer on Google Play Store completely denies it to cover it up. Its Play Store page also says “The developer doesn’t provide a way for you to request that your data be deleted”.
Zaki raises a valid point in his thread, saying that the app could be highly dangerous if it was installed by a government official or an army officer since sensitive information could be at risk.
We reached out to Zaki for an official comment on the matter. Here is what he had to say:
Most of these are ‘white label’ apps based in, or originating from, China. They partner with locals in Pakistan to push their apps among locals through sponsored videos by amateur vloggers. These apps benefit from Pak’s weak regulatory infrastructure and absence of data protection laws.
It remains to be seen whether Google or Pakistani authorities will take any action against WeCash or other similar apps. We have tried reaching out to the app publisher but there has been no response so far. Their own website does not include any way to contact them.
Suspicious or not? You decide.
Ooh 😮 , Zaki sir, where is anybody?? Your report is shocking,
And many points highlight,
Sir what you sagest that people give him back loan money with high interst?? Or ignore there calls??
Zaki sir here is not any person who take action against loan apps because they give few money to SECP,
I know some people who take loan and they are worried and mentally disturbed,
Simple and poor people