The Bank of Thailand has identified ten mobile applications offering personal loans illegally, including Fineasy and Happy Loan.

These apps, which were operating without proper registration, have raised concerns regarding financial consumer protection.

The central bank is working with the Digital Economy and Society Ministry's Personal Data Protection Committee (PDPC) to have these apps removed from major app stores.

The central bank has confirmed that it will submit an official report this week, urging the Google Play Store and other platforms to take action.

The apps were discovered through a review initiated by the PDPC, which provided a list of suspicious apps.

Following an investigation, the Bank of Thailand determined that only one of the listed apps was operating legally.

Some of the apps were found pre-installed on certain Chinese smartphones, including Oppo and Realme devices.

The Fineasy app was linked to illegal personal loans, and users were unable to uninstall it as it was embedded in the operating system.

Complaints have been filed by 40 individuals against Oppo, Realme, and their distributors, accusing them of operating the apps unlawfully and violating personal data protection laws.

The complaints are under review, and fines may be considered.

The Bank of Thailand continues to monitor illegal and suspicious apps to safeguard consumers from financial fraud, amid rising cyber-risks.

The Thailand Consumers Council, which first flagged these apps, has also participated in discussions with relevant authorities, including the Electronic Transactions Development Agency, the National Broadcasting and Telecommunications Commission, and the PDPC.

The bank has categorized the identified apps into two groups: unauthorized lending apps and data-stealing apps.