Viceroy Research published on Truecaller (Stockholm: TRUE — kr15.3 billion), a Swedish caller ID and spam detection company. Viceroy called the company “a Swedish adware & spyware app” and said the company is “on the brink of redundancy” following consumer data protection regulations like GDPR. Viceroy alleged the company moved its substantive operations to India in an attempt to evade European privacy regulations and Viceroy highlighted that the company “has been subject to two Public Interest Litigation cases in India [with one] ongoing in the High Court of Bombay.” Viceroy also alleged that Truecaller has been spamming its users with ads to provide a short-term revenue boost and noted that the company’s auditor in India was the same auditor used by Wirecard.