The Chile Financial Market Commission issued a public warning about predatory loan offers being promoted through mobile applications that are not supervised by the CMF, and lodged a criminal complaint with the Public Prosecutor's Office against those responsible for the apps identified. The alert refers to five applications available via Google Play and other websites, including DALE CRÉDITO - PRÉSTAMO VELOZ and SR LUMINALOAN. The CMF also directed the public to its Fraud Alerts Page, where investors, policyholders and banking customers can check whether a person or entity offering financial products or services is CMF-supervised and view alerts from the CMF and foreign regulators on unregulated entities or activities.
Chile Financial Market Commission warns of unregulated predatory loan apps and files criminal complaint
The Chile Financial Market Commission issued a public warning about predatory loan offers promoted through unsupervised mobile applications and filed a criminal complaint against those responsible. The alert identifies five apps, including DALE CRÉDITO - PRÉSTAMO VELOZ and SR LUMINALOAN, and directs the public to the CMF's Fraud Alerts Page for verification of CMF supervision and alerts on unregulated entities.