The Presidential Anti-Organized Crime Commission (PAOCC) announced on Monday the formal launch of a major campaign to address the increasing number of complaints against abusive online lending applications (OLAs).
In a statement, the PAOCC indicated that it will coordinate with the Philippine National Police – Criminal Investigation and Detection Group (PNP-CIDG), the Securities and Exchange Commission (SEC), and the National Telecommunications Commission (NTC). This initiative is part of the directives from President Ferdinand R. Marcos Jr. to prioritize complaints against OLAs, ensuring that victims can seek justice and access necessary legal remedies.
PAOCC Executive Director Undersecretary Gilbert Cruz highlighted the detrimental impact of OLA operators, stating that they are inflicting “financial, psychological, and reputational injury” on thousands of Filipinos through threats and harassment. “These abusive online lending operators have caused serious harm to thousands of Filipinos. Under the President’s directive, we are going after these groups to protect our people and ensure they are held accountable,” he said.
The PAOCC reported receiving over 13,000 complaints in just April and May. During the launch, about 100 complainants provided sworn statements and testimonies to the CIDG, sharing their experiences and assisting law enforcement in building strong cases against violators.
PNP chief Gen. Nicolas Torre III assured that the complainants will receive full assistance throughout the legal process.
The SEC has previously warned Filipinos against transacting or borrowing from online lenders that operate without proper registrations or licenses. The commission emphasized the risks associated with such transactions, including exposure to abusive collection practices, privacy violations, and exorbitant fees.
The SEC has already ordered the removal and blocking of several online lending applications found to be operating without the necessary registrations and licenses. In February of this year, the PAOCC successfully banned 27 administrators and 89 online scam loan pages from the internet through coordination with international counterparts.
“The government has made a definitive statement that abusive and exploitative lending will not be tolerated. The Marcos administration remains fully committed to protecting the welfare of Filipino consumers, safeguarding financial integrity, and holding all violators accountable under the law,” Cruz concluded.