By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines – The Securities and Exchange Commission (SEC) has stepped up its crackdown on suspicious online lending activities, warning the public against several entities accused of illegally using the identities of legitimate financial firms to solicit borrowers.
In a recent advisory, the corporate regulator flagged the website Perasayo.com for allegedly using the name, corporate identity and regulatory information of Pera Sayo Lending Inc., a duly licensed lending company, without authorization.
READ: PNP cracks down on abusive online lending apps
The SEC said the website had been soliciting loan applications while falsely presenting itself as connected to the licensed lender.
