Gota a gota' apps in Colombia: risks and why to avoid them
The rise of digital loans in Colombia has not only facilitated access to quick money, but has also opened the door to illegal practices that have migrated from the physical world to the virtual environment.
TL;DR
- The digital 'gota a gota' is an illegal lending practice using apps and social media.
- It involves usurious interest rates and the misuse of personal data for extortion.
- Users' contacts, photos, and files can be accessed and used as pressure tactics.
- Signs of illegal apps include promises of quick cash, advance payment requests, and operation via social media.
- Examples of flagged platforms include Crediscol, Vida Luja, and Neo Fintech.
- Verify with the Financial Superintendence, avoid advance payments, and check app permissions to stay safe.