Unlicensed loan apps can expose debtors to harassment, personal privacy abuse– Analyst

He stated some unlicensed loan operators get to debtors’ individual information, including their contacts, and might apparently utilize such details to embarassment, daunt or bug clients who stop working to repay their loans on time.

According to Mr Akpah, the benefit and speed related to digital financing typically trigger debtors to accept loan contracts without putting in the time to comprehend the ramifications of the conditions.

Speaking in an interview kept an eye on by The Ghana Report on Metro television’s Good Afternoon Ghana on Wednesday, September 9, 2026, he stated monetary pressure typically requires debtors to ignore the quantity and nature of individual details they offer loan applications access to.

“You might register that, yes, you concur, however do you truly comprehend the ramification? Obviously not. Due to the fact that all you are doing is you are taking that, oh, I consent to the conditions of the loan. Since you require a loan,” he stated.

Mr Akpah stated customers might just value the repercussions of giving comprehensive access to their details after they default on their loans.

He stated there have actually been circumstances where people who were not able to pay back digital loans on time presumably had their individual info utilized versus them, consisting of through posts flowed on social networks.

“We have actually seen just recently where there are posters on social networks stating individuals dead, stating individuals to be scammers, even if they are not able to pay these loans on time,” he stated.

He explained such practices as a major danger to the personal privacy and self-respect of customers, especially as digital financing continues to grow in Ghana.

Mr Akpah likewise raised issues about the trouble of controling some digital financing operators since they lie outside Ghana however offer loans to Ghanaian clients through online platforms.

“Most of them remain in Hong Kong and after that the Asia nations, however they have access to our individuals,” he stated.
He argued that participating in a loan contract need to not provide loan providers unlimited control over a customer’s individual life or personal details.

“These loan apps simply by the virtue that a Ghanaian is obtaining cash from you does not provide you the gain access to or the advantage to own the self-respect or the personal life of that debtor,” he stated.

The expert advised customers to thoroughly check out and understan the conditions of digital loan applications before accepting any deal.

He stated the requirement for instant monetary support typically leads debtors to just tick a contract box without thinking about the authorizations they are giving to the application.

“I’ve downloaded applications that there’s simply a little box there which states I accept the conditions. You do not understand what remains in the conditions unless you read them, however you go and tick it and after that state accept since you require cash for lease and whatever it is,” he stated.

Mr Akpah recommended debtors to pay specific attention to ask for access to delicate individual info and to question whether such details is really needed to supply the loan service.

He even more contacted the Cyber Security Authority to step up public education on digital personal privacy and aid customers comprehend the dangers related to approving applications broad access to their individual details.

“The Cyber Security Authority need to similarly start a severe project to inform Ghanaians of just how much gain access to they can provide to such organizations to their public details,” he stated.

Mr Akpah likewise proposed higher public education on the terms connected to digital loans, arguing that complex legal language needs to not avoid customers from comprehending what they are accepting.

“Let’s release the conditions for Ghanaians. They can mandate somebody to check out, make notes, prepare infographics, and inform the Ghanaians that this loan app, these are what and what you are registering to when you consent to their terms,” he stated.

While acknowledging the function of digital loaning in supplying fast monetary support to customers, he worried that access to emergency situation funds must not come at the cost of customers’ personal privacy and self-respect.

He for that reason encouraged Ghanaians who need digital loans to utilize certified credit service providers controlled by the Bank of Ghana and to validate the authenticity of financing platforms before sharing individual details.