SEBI will crack down on spam, online fraud and loan apps; Meetings with regulators

The Telecom Regulatory Authority of India (TRAI) in collaboration with the Securities and Exchange Board of India (SEBI) is working with the Ministry of Consumer Affairs to crack down on spam, online fraud and loan apps. There have been three meetings so far and there will be meetings with regulators around the world on Wednesday.

G Business is the first to launch a campaign against spam, online fraud, and loan apps called #OperationHaftaVasooli. Then it came up for discussion and TRAI Chairman PD Vaghela said that spam, online fraud and loan apps have become a big problem for the country. He added that drastic steps need to be taken to stop this. For this, discussions are going on with the industry and operators and work is also being done to control and regulate the loan app.

And since apps and servers are also used in other countries, careful action is needed. A meeting with regulators around the world will be held on May 18, 2022 to discuss this issue.

The TRAI chairman further said that 5G ecosystem needs to be created and it is expected that 5G will be launched within the stipulated time frame. It is recommended for use, application and training of 5G network. In addition, all ministries are advised to create an action plan to facilitate the use of 5G.

Bhaghela also said that the role of police administration is important in case of spam and loan app. Compulsory registration is under discussion.

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