How to spot a predatory loan app before installing it

Short answerAn app is not trustworthy simply because it appears in an app store. Verify who lends, which contract you sign, and which permissions it requests before sharing data.

Then follow the steps and verify every figure in the original source.

1. Confirm the legal entity

Find the full legal name in the contract, not just the logo. Compare it with SIPRES or, when applicable, the registry and authority the company identifies.

2. Never pay in advance

A request for a deposit to release, insure, or unlock a loan is a high-risk warning. Stop and verify through official channels.

3. Review permissions

Contacts, photo access, and continuous location can be abused. Ask why each permission is needed and avoid APK files sent through messages.

4. Keep evidence

Save ads, URLs, the contract, disclosure sheet, receipts, and conversations. Do not publicly share your INE, phone number, address, or bank details.

Sources

SSPC: guidance on montadeudas loan apps CONDUSEF: SIPRES

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