Anti-cybercrime operatives of the Philippine National Police (PNP) arrested a total of 83 people in a raid on the office of an alleged illegal online lending agency in Sampaloc, Manila. Police Brig. Gen. Joel Doria, director of the PNP-Anti-Cybercrime Group (ACG), said those arrested were the ones...
AWARD FOR NVC –The Negrense Volunteer for Change (NVC) Foundation led by its president Millie Kilayko (second from right) was conferred the Parangal Lingkod Sambayanan award during the special academic convocation for Traditional Awards of the Ateneo de Manila University (ADMU) in Manila Tuesday,...
The Securities and Exchange Commission (SEC) has cancelled the lending license and corporate registration of Flying Bear Lending Corporation which is operating as Yopeso, Morepeso and Rapidpeso. In a statement, the commission said the cancellation is due to the firm’s failure to disclose its...
In the Philippines, many adult Filipinos still find it difficult to apply for loans. However, the heavy demand for digital transactions and experiences, accelerated by the Covid-19 pandemic, brought opportunities that led to revolutionizing lending to unbanked Filipinos towards a more...
Albay 2nd district Rep. Joey Salceda believes that a bigger crackdown on online lending and investment scams is coming sooner than later, thanks to President Duterte's expected signing of the Financial Consumer Protection (FCP) Act. (Maxim Ilyahov/ Unsplash) “I am told by sources in the Palace...
The Securities and Exchange Commission (SEC) has revoked the license of Cashtrees Lending Corporation for launching and operating unregistered online lending platforms (OLPs) despite a moratorium imposed by the Commission. In an order, the SEC Corporate Governance and Finance Department (CGFD)...
The Securities and Exchange Commission (SEC) has revoked the registration and secured conviction of several illegal lending companies as part of its sustained crackdown against illegal and abusive lenders, the Department of Finance (DOF) said. In a statement, the DOF cited an SEC report that showed...
While we can be thankful and optimistic that the worse of the COVID-19 global health crisis may be over, and that the light at the end of the COVID-tunnel is getting brighter; the inescapable truth is that while Resilience has been a key quality of us Filipinos, the pandemic has also shown us just...
The Securities and Exchange Commission (SEC) and the Philippine National Police Anti-Cybercrime Group (PNP-ACG) has arrested employees of CashTrees Lending and seized misused devices used for unregistered online ending applications. In a statement, the SEC said the operation is part of its ongoing...
About 45 Filipinos and a Chinese national allegedly involved in an online money lending scam were apprehended by operatives of the Philippine National Police - Anti-Cybercrime Group (PNP-ACG) in Barangay San Antonio, Pasig City on Saturday, Feb. 12. The PNP-ACG identified one of the suspects as...
The Securities and Exchange Commission (SEC) has declared final and executory the revocation of the Certificate of Authority (CA) of Fynamics Lending Inc. to operate as a lending company. In a statement, the SEC said this comes after Fynamics’ repeated failure to comply with reportorial...
The Securities and Exchange Commission (SEC) has won another legal battle against on illegal lending with a regional trial court having convicted the incorporators and directors of X-CEE789 Lending and Trading, Inc. for submitting falsified documents for its registration. In a decision dated June...
