List of Illegal Online Lending Apps Banned by SECP in Pakistan
Looking for a list of illegal online lending apps in Pakistan? You’re in the right place. SECP (Securities and Exchange Commission of Pakistan) has been cracking down on fake, predatory lending apps since 2023, and in 2025, the pressure is stronger than ever.
In this blog, we’ll walk you through the official list of illegal online lending apps banned by SECP in Pakistan, explain how these scams work, and guide you on how to stay safe. Because borrowing shouldn’t cost your peace of mind.
Why SECP Banned These Online Lending Apps
SECP took action because hundreds of users were being harassed by unregistered loan apps.
These apps offered quick loans but came with a dark twist—hidden charges, data theft, blackmail, and even cyberbullying. Many operated without a license, collecting personal data through excessive permissions.
By mid-2024, the SECP published a public warning and started working with Google, Apple, PTA, and FIA to remove them.
If you’re someone who’s taken a quick loan through an app recently, read this list carefully. It could protect you or someone you care about.
List of Illegal Online Lending Apps (Updated 2025)
Below is a non-exhaustive but updated list of illegal online lending apps banned by SECP in Pakistan:
| Sr. No | Illegal App Name | Status | Platform(s) |
| 1 | PK Loan | Banned | Android |
| 2 | EasyLoan | Banned | Android/iOS |
| 3 | ForiCash | Banned | Android |
| 4 | iCash | Banned | Android/iOS |
| 5 | Start Loan | Banned | Android |
| 6 | Mr. Loan | Banned | Android |
| 7 | CreditBee | Banned | Android/iOS |
| 8 | SnapLoan | Banned | Android |
| 9 | Cash Loan Pro | Banned | Android |
| 10 | Rozgar Finance | Banned | Android/iOS |
Note: SECP regularly updates this list. Always verify apps through the SECP website or use FBR’s public notices.
Red Flags to Spot Illegal Lending Apps
These apps often seem helpful—but they’re not. Watch out for these signs:
Key Tips to Protect Yourself:
What SECP Is Doing to Stop These Scams
The SECP in collaboration with PTA, Google, and FIA is actively removing such apps from app stores. SECP has also introduced new rules:
This crackdown has brought relief to thousands of Pakistanis and restored trust in legal loan apps.
How to Check If a Loan App is Legal in Pakistan
Before downloading or borrowing from any app:
- Visit SECP’s official list of registered NBFCs.
- Check if the app is listed on their website.
- Confirm it doesn’t appear in SECP’s banned loan apps list.
- Read reviews and verify the publisher name.
Why Legal Lending Matters for Your Future
Using illegal apps may not only trap you in unfair debt but also risk your personal data. And if you’re planning to grow financially—say by investing in a business center or launching a startup—you need clean credit and peace of mind.
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Final Words: Stay Smart, Stay Safe
The rise of instant loan apps in Pakistan made borrowing easier—but also riskier. Thanks to SECP, the list of illegal online lending apps is now public, helping people like you avoid traps.
Borrowing money is serious—it deserves clarity, trust, and legal protection. Use only SECP-approved apps and avoid shortcuts that lead to long-term stress.
If you’re unsure about a platform, double-check with official sources, talk to financial advisors, or just pause. A smart delay is better than a rushed regret.
Remember: Illegal lending apps may give you fast cash, but they come with a heavy emotional price. Choose wisely—2025 is all about financial confidence, not chaos!