The Financial Market Commission (CMF) has filed a criminal complaint with the Public Prosecutor's Office against the operators of three lending apps for the crime of usury. The move seeks to penalize the practices of these platforms, which offer loans under predatory terms.
The entities identified by the regulator are “App Luca Dinero,” “App Nexcash,” and “App Luka Rápida.” These apps are available for download on Google Play as well as various websites.
Verifying financial services
The CMF warned that the complaint is directed at whoever is found responsible for operating these apps. The institution aims to curb the proliferation of unregulated financial services operating in the digital marketplace.
To prevent fraud or abuse, the agency reminded users that they can verify the legitimacy of any financial offer. The CMF's official website allows users to check whether a company or individual is supervised by the entity.
The regulator also urged the public to review alerts issued by the CMF and other foreign regulatory bodies. These warnings include information regarding unregulated activities and advice on protecting investors and financial clients.