Bangladesh Bank has warned people not to use unauthorised mobile loan apps. Such apps reportedly access contacts, photos and messages and are used to blackmail and extort borrowers.

In a separate notice, the bank flagged 22 unlicensed online payment aggregator platforms, including UddoktaPay, PipraPay and EzePay. Operating without a licence breaches the Payment and Settlement Systems Act, 2024, which carries penalties.

The public is advised not to transact through these apps and platforms to avoid financial loss and legal risk.

Source: The Business Standard and other published reports — rewritten in our own words.