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MANILA, Philippines — The Securities and Exchange Commission (SEC) warns the public against fraudulent online lending platforms and mobile applications allegedly posing as licensed lender Copperstone Lending Inc. and its MocaMoca brand.
In an advisory on Monday, the SEC’s Financing and Lending Companies Department (FinLenD) said several suspicious websites, mobile applications, and social media pages were reportedly misrepresenting themselves as affiliated with or authorized by Copperstone Lending.
According to the regulator, the reported activities involve the unauthorized use of the company’s corporate identity and branding, operation of counterfeit lending applications, possible phishing activities, and unauthorized collection of personal information.
READ: Watchdog warns vs investment, lending fraud
