The Philippine Embassy in the Netherlands has warned Filipinos against unauthorized online lending platforms targeting migrants through social media.
The embassy said these platforms, including Pinansyal Moves, Tiwalang Lending Prime, Pautang OFW sa Norway, PinoyPay Prime, and CredXpressLending, are not registered with the Securities and Exchange Commission (SEC).
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It urged Filipinos to verify lending firms’ legitimacy through the SEC’s email address: ictdsubmission@sec.gov.ph.
The Department of Foreign Affairs, Bangko Sentral ng Pilipinas, and SEC coordinated to identify the unverified platforms.
The Philippine Embassy in Singapore also issued a similar alert about a loan shark scam using the embassy’s name to collect personal data.
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