SEC warns public against surge in online loan scams

MANILA, Philippines – The Securities and Exchange Commission (SEC) has warned the public against rising online lending scams and fraudsters posing as government or bank representatives. In separate advisories, the regulator said it has received more complaints about illegal online lending and impersonation scams targeting money and personal data. READ: PNP cracks down on abusive online lending apps The SEC’s Financing and Lending Companies Department said some schemes involve unverified individuals or entities offering loans online while falsely using the names and identities of legitimate financing or lending companies. Victims are often asked to pay advance charges, such as processing, verification […]... Keep on reading: SEC warns public against surge in online loan scams

Original source: Philippine Daily Inquirer