Once again, the Securities and Exchange Commission (SEC) has issued a warning to the public against several online lending platforms, websites, mobile applications and social media accounts that reportedly misuse the identities of legitimate lending and financing companies to solicit borrowers.
In a series of public advisories, the state regulator disclosed that several Facebook pages, TikTok accounts, websites and mobile applications had been monitored for unauthorized use of the name, corporate identity, registration details and regulatory credentials of legally incorporated lending firms in connection with loan offerings and related financial services.
It flagged multiple entities allegedly posing as or claiming affiliation with registered lenders including Mabilis Cash Financing Corporation, Pera Sayo Lending Incorporated, Lendora Lending Corp., and Tala Financing Philippines Inc.
Mabilis Cash had earlier denied any connection with the reported platforms, which include numerous Facebook pages.
