Manila: The Presidential Anti-Organized Crime Commission (PAOCC) on Monday announced the formal launch of a major campaign aimed at addressing the surge in complaints against abusive online lending applications (OLAs).
According to Philippines News Agency, PAOCC is coordinating 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 follows directives from President Ferdinand R. Marcos Jr. to prioritize complaints against OLAs to ensure victims can obtain justice and access necessary legal remedies.
PAOCC Executive Director Undersecretary Gilbert Cruz highlighted the severe impact of OLA operators on Filipinos, citing 'financial, psychological, and reputational injury' caused by 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 stated.
The PAOCC has received over 13,000 complaints in April and May alone. Approximately 100 complainants attended the launch to provide sworn statements and testimonies to the CIDG, aiding law enforcement in building strong cases against offenders.
PNP chief Gen. Nicolas Torre III assured comprehensive assistance for complainants throughout the legal proceedings. Meanwhile, the SEC has previously cautioned Filipinos against dealing with unregistered or unlicensed online lenders, warning of risks such as abusive collection practices, privacy violations, and excessive fees.
The SEC has already acted by ordering the removal and blocking of several online lending applications operating without necessary registration and licenses. In February, PAOCC successfully banned 27 administrators and 89 online scam loan pages from the internet through international collaboration.
Cruz emphasized the government's stance, stating, 'The government has made a definitive statement that abusive and exploitative lending will not be tolerated. The Marcos administration remained fully committed to protecting the welfare of Filipino consumers, safeguarding financial integrity, and holding all violators accountable under the law.'
