Government cracking down on fraudulent loan app ads on social media: Rajeev Chandrasekhar

Image Source : PTI (FILE) Government cracking down on fraudulent loan app ads on social media: Rajeev Chandrasekhar

The central government is cracking down on the advertising of fraudulent loan apps on social media, Union Minister Rajeev Chandrasekhar said today, adding that these ads are misleading and exploit people who use the internet. Union Minister Chandrasekhar said the IT ministry has made it clear to the platforms that they cannot carry advertisements of fraudulent loan apps.

“We are now cracking down on advertising of fraudulent loan apps that many platforms are carrying and we have, made it clear through yesterday’s advisory that no intermediary can carry advertisements of fraudulent loan apps because it will be misleading and exploit people who are using the internet,” the Minister of State for Electronics and IT told media on the sidelines of an event.

The Ministry of Electronics and IT (MeitY) had on Tuesday (December 26) directed social media platforms to take additional measures to ensure that they don’t host advertisements of fraudulent loan apps.

It also warned that the “consequences” will be the sole responsibility of such intermediaries and platforms.In its advisory issued to online platforms like Meta’s Facebook, Instagram, and Google on Tuesday, the ministry asked them to ensure compliance within seven days.

Separately, the central government yesterday issued an advisory to all intermediaries, ensuring compliance with the existing information technology rules. The directive specifically targets the growing concerns around misinformation powered by AI – Deepfakes.

In his post on X, Union Minister Rajeev Chandrasekhar said “Today, a formal advisory has been issued incorporating the ‘agreed to’ procedures to ensure that users on these platforms do not violate the prohibited content in Rule 3(1)(b) and if such legal violations are noted or reported then the consequences under law will follow. MeitY will closely observe the compliance of intermediaries in the coming weeks and follow this up with further amendments to the IT Rules and/or the law if and when required. It is PM Narendra Modi ji’s government’s mission to ensure that the internet is safe & trusted and all intermediaries are accountable under law for the safety and trust of the Digital Nagriks that use the Indian Internet.”

The advisory mandates that intermediaries communicate prohibited content, particularly those specified under Rule 3(1)(b) of the IT Rules, clearly and precisely to its users.

(With ANI inputs) 

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