The Securities and Exchange Commission on Friday asked Google to clarify its policy of accepting apps to its network including online lending apps found to be illegal.
SEC commissioner Kelvin Lester Lee said the agency would meet Google’s representatives in the Philippines to find out how the apps of illegal lenders went online through the Google App Store.
“We are reaching out to Google. I asked my staff to set up a meeting with them Monday next week to talk to them about their app store. I’m not familiar with their requirements, if there are any or any restrictions if any,” he said.
Lee also encouraged Google to set some standards to filter legitimate from illegitimate apps in via the Google Play Store.
He said he would like to know the parameters that Google employed to allow these apps to quickly set up operations online.
“To tell you frankly, these online lending apps are too many, and they are so fast in setting up apps online. They multiply quickly and have victimized so many people already,” he said.
Most of the illegal online apps are of multi-national identities but are utilizing Filipino manpower for their call center operations.
The SEC already took down 30 apps and plans to request for the closure of more apps in the next few weeks.