Manila: The Securities and Exchange Commission-Cagayan de Oro Extension Office (SEC-CDEO) has raised an alert about the prevalence of investment scams and unregistered online lending applications (OLAs) in Northern Mindanao.

According to Philippines News Agency, SEC-CDEO Director Frederick Enopia emphasized the agency's vigilance in monitoring local corporation registrations that involve the collection of money. Enopia explained, "We have been proactively investigating these entities that might ask the public for investments before it becomes a bigger problem." He urged the public to verify the legitimacy of new companies by consulting the SEC office to ensure they are licensed for investment activities.

Furthermore, the SEC-CDEO has observed a surge in the number of OLAs within the region. Beginning in 2026, the office responded to numerous complaints regarding violations and abusive practices perpetrated by dubious investment firms during their collection processes. This initiative aims to safeguard borrowers from exploitative practices and enhance the regulatory framework in Northern Mindanao.