SBS reported more than 70 informal loan applications in 2023: what are they?

The Superintendency of Banking, Insurance and AFP (SBS) alerted the population about the financial informality schemes that have been increasing in our country in recent years. In total, 2,891 emails have been received with complaints and queries from citizens during 2023, of which 1,847 were responded to.

Likewise, the SBS published five statements regarding the existence of more than 70 informal loan applications, 10 business schemes that do not have authorization and four alleged companies that offer fraudulent loans. Below, find out all the details about illegal loan applications and learn how to report them.

These are the informal loan apps that you should avoid

According to Carlos Cueva, head of the Litigation Affairs Department of the SBS, said entity has collaborated with citizens in reporting various informal applications that offer and disburse a series of money loans, either at the request of users or without it. These apps, when demanding payments, include excessive charges and interest and use harmful practices against the honor of users, such as threats or extortion.

“In a coordinated effort with Google LLC, at the request of the SBS, more than 60% of these applications were removed from the Play Store application store. On the other hand, we continued to provide guidance to users to make complaints to the Public Ministry and National Police,” he said.

Next, check out this list of more than 70 informal applications that were reported by the SBS during 2023:

• Alpacash – Loans in Peru
• Ekeko: Fast Online Loans
• Vamo Cash: Online Loans
• CurrencyEat
• RápiPago – Your Personal Wallet
• Mint – Easy Loans
• Sol Más: Quick Easy Loan
• MyWealth
• YaCredito – Fast Loans
• ePlata – Online Loans
• Misol – Fast Online Loan
• CoriSilver
• Sol Ya – Peru Loan
• ConfioCash – PE Loans
• Credisol – Credit Loans
• CoriMoney
• ZooPréstamos – Online Credit
• Loan with Peace of Mind
• Flow rises
• Sol PE – Get Money Fast
• Enough Pasta
• Magicaja – Quick Loan
• Plus Loan – Up to 5,000 soles
• EasyPlata – Urgent Loan
• BuenSoles – Quick Loan
• Solibre – Easy Loan
• Express Crédito – Easy Loan
• Sol Button – A Withdraw Button
• Offers
• Vidaluja
• Nukki
• Dana Plus
• Enough Pasta
• Kred
• Lend me
• Lot
• Ekecash
• New Finance
• More Sun
• Vs-Cred
• Lana Today
• eSilver
• LimaCash
• PeruCredit
• Cash Bus
• Solya Cash
• Takay
• Hinance
• SuperCredit
• Sol Loan
• Too much sun
• Kwallet
• Lucky Coin
• COCO Credit
• OkCredit
• EasySuns
• WeLoan
• MAWLoan
• C Platinka
• Loan portfolio
• Crecy/Creci
• Credit Perú
• CuyCash
• hicash
• Hello Cash
• Huay Money
• Ikori
• Kolke
• Misols Peru
• Peru Credit
• Peru Loan
• Lend soles
• Sol cash
• Yep credits.

How many entities did the SBS close in 2023?

During the press conference given by the Superintendency of Banking, Insurance and AFP (SBS), it was reported on the sector of savings and credit cooperatives that have been supervised since 2019. Along these lines, SBS closed four entities in 2023 that they were raising money without proper authorization from the institution. These are:

• Southern Option Multiple Services Cooperative (Puno, Juliaca and Ilave)
• Reactívate Perú Multiple Services Cooperative (Puno, Juliaca and Ilave)
• San Salvador Savings and Credit Cooperative Limited (Puno, Juliaca and Lima)
• Margarite SAC (San Isidro, Lima).

Illegal loan apps: how to report them?

The head of the Department of Litigation Affairs of the SBS, Carlos Cueva, urged users not to access websites of dubious origin and to check if the entity has authorization from the superintendency, before requesting a loan or depositing money. In that sense, if there is any complaint or query related to people or companies that offer these informal financial services, you can call 0-800-10840 (toll-free nationwide), write to the email informalidad@sbs.gob. eg or enter the SBS website.