Babu Pooniawalla’s Fight Against Fake Loan Apps
In a small village in Churu, Rajasthan, 33-year-old Babu Pooniawalla leads a global campaign against fraudulent loan applications. Operating from a modest setup with a shaky 4G network, his journey began as a curious investigation in June 2023 and has evolved into a dedicated mission. To date, Pooniawalla has identified 22,000 fake loan apps and facilitated the removal of 17,000 of them from the Google Play and Apple App Store. His transformation from a computer science graduate to a digital vigilante illustrates a David-versus-Goliath struggle against a vast scam network that targets the vulnerable.
Early Academic Life and Career Journey
Pooniawalla’s early life was characterized by academic excellence. He excelled in his studies and successfully cleared the JEE exam, earning admission to NIT Rourkela in 2009 to pursue a degree in Computer Science. “I wasn’t sure about my career direction initially, but my parents encouraged me to choose computer science engineering,” he shares. After graduating, Pooniawalla entered the startup ecosystem, developing mobile applications for various companies, including Core, Entrip, and Slack, where he focused on messaging features before moving into the corporate sector.
Experience in the Fintech Sector
In 2018, he joined IND Money, a fintech startup in Gurgaon, as part of the initial engineering team. His growing interest in the fintech sector led him to consult for wealth management and investment firms until mid-2024. However, it was a darker aspect of the app ecosystem that caught his attention in 2023—fake loan applications.
The Emergence of Fake Loan Apps
While developing apps for the Apple App Store, Pooniawalla discovered a worrying trend: numerous fake loan applications defrauded users. “Despite the strict app store publishing process, these fraudulent apps were thriving,” he notes. His research unveiled alarming findings—many of the apps were unnamed, lacked credible development teams, and operated under false developer accounts. A pivotal moment came when he learned about a man in Kerala who tragically died by suicide after falling victim to a flagged app.
Raising Awareness and Taking Action
Pooniawalla’s awareness campaign gained traction on social media. His alarming findings revealed that in July 2023, 27 of India’s most downloaded apps—15%—were found to be fraudulent. Among these were apps like RupeeFlow and Master Kash, which were rapidly amassing downloads through misleading advertisements. “The situation drove me to anger—why wasn’t anyone holding Google and Apple accountable?” he questioned.
An Ongoing Battle Against Scammers
Over the past two years, Pooniawalla flagged 22,000 apps, with 5,000 identified in the last year alone. While Google removed 12,000 and Apple 5,000 of them, Pooniawalla faces the unsettling reality that 5,000 still remain active. “They keep emerging. Why aren’t these platforms fixing the issue?” he asks. Some scammers even approached him, offering bribes via LinkedIn and Twitter to cease his efforts. Despite this, Pooniawalla remains undeterred.
Future Endeavors and Collaboration
In mid-2024, he transitioned from consulting to collaborate with partners on innovative solutions. He is currently developing a tool similar to Truecaller, which will analyze app links in real-time to spot fraudulent activities. His ambitious goal is to automate the identification of up to 10,000 fraudulent apps daily using artificial intelligence to recognize patterns. His new focus extends to data-stealing scams, illegal betting applications, and fake dating platforms.
Call for Action and Empathy
Pooniawalla reflects on the human toll these scams take, noting, “Consumers are losing trust, and the vulnerable are driven to despair.” He pleads with Google and Apple for a collaborative approach to address this growing issue, urging, “This is the Covid-19 of the digital era.” He offers heartfelt advice to scam victims: “Do not argue with scammers. Report them, and remember, you’re not alone.” From Churu, his relentless fight spans across nine countries, proving that the language of scammers knows no borders.
Babu Pooniawalla: A Digital Warrior Against Fraudulent Loan Apps
In a small village in Rajasthan, a remarkable figure is rising to prominence in the battle against fraudulent loan applications. Babu Pooniawalla, 33, is on a relentless mission to expose and remove these scams, which target vulnerable individuals seeking financial assistance. Despite operating from a modest setup with limited connectivity, Pooniawalla has identified an astonishing 22,000 fraudulent apps and facilitated the removal of 17,000 from major app stores.
A Journey of Academic Excellence
Pooniawalla’s early life was marked by academic rigor. After excelling in his studies, he gained admission to NIT Rourkela in 2009, where he pursued a degree in Computer Science. Initially uncertain about his future, he was encouraged by his parents to explore the field of computer science engineering, setting the stage for a successful career in technology.
From Corporate to Combatting Scams
His professional journey commenced in the startup ecosystem, where he developed mobile applications for various companies, including Core and Hike Messenger. Pooniawalla’s fascination with fintech deepened as he joined IND Money, a startup focused on financial technology, further enriching his expertise in app development.
Uncovering the Dark Side of the App World
The turning point in Pooniawalla’s career came in 2023 when he stumbled upon a disturbing trend in the app ecosystem—fake loan applications. His investigation revealed that many of these apps operated under false pretenses, luring users into traps that often led to financial disaster. A heartbreaking incident, where a user died by suicide after falling victim to one such app, propelled Pooniawalla to take action.
Relentless Pursuit and Groundbreaking Findings
What started as a hobby evolved into a full-fledged campaign against these scams. Pooniawalla’s findings were alarming; about 15% of the top 200 downloaded apps were indeed fake, with many exhibiting dubious characteristics designed to exploit unsuspecting users. His relentless efforts uncovered a systemic issue where scammers frequently manipulated app store regulations to appear legitimate.
A Call for Accountability
Pooniawalla’s crusade against these fraudulent entities has drawn attention to the lack of accountability from major app stores. He emphasizes that scammers often have more resources than legitimate fintech companies, effectively distorting the competitive landscape. His call for collaboration with tech giants like Google and Apple implores them to take stronger measures in curbing these fraudulent practices.
The Future of Fraud Detection
In mid-2024, Pooniawalla redirected his focus to building innovative solutions to detect and combat fraud actively. He is currently working on a tool similar to Truecaller, designed to analyze app links in real time for potential scams. This ambitious project aims to automate the detection process, leveraging AI to identify thousands of fraudulent apps daily.
Raising Awareness and Spreading Hope
Pooniawalla stresses the importance of raising awareness about these scams and urges consumers not to feel isolated in their struggles. By reporting suspicious apps and sharing their stories, victims can help create a more secure digital environment. His unwavering resolve continues to inspire others to join the fight against app-based fraud, transcending geographical boundaries to protect vulnerable consumers worldwide.
