SEC releases list of unauthorized online lending platforms

The Securities and Exchange Commission (SEC) on Thursday released a list of unauthorized online lending platforms (OLPs) in the country.

In an advisory posted on its Facebook page and website, the SEC said the following OLPs are not allowed to offer, process, or provide lending services in accordance with its Memorandum Circular No. 10, Series of 2021, which imposed a moratorium on new OLPs beginning November 2, 2021:

Google Play Store

• Sofi Loan - online installment (fake Sofi Financing Inc)
• Masaya Cash: Online Loan App
• Napaka Tala - Easy Online Loan
• Peso Funny - Online Cash Loan
• MoneyAccess: Smart Loan App
• Cash Ease
• PesoMate-Fast Loans PH

Apple Store

• MocaMoca - Safe & Fast Loan (fake Moca Moca app)
• Atome Loan - Mabilis cash Loan
• Mabilis Credit - Quick Cash Loan
• Bee Pera-Philippines loan app
• Tala Peso - mabilis cash loan
• Peso Loan - loan app Philippines
• Tala CashPro - loan app quickly
• FacilCredit
• Sigurado Cash - Peso Loan app
• Micropinnacle Technology Corporation
• Tala Loan - peso lending app
• Pesolending
• MabilisCash - Online Credit Loan
• TalaCash - Loan App Philippines
• Tala Pera

Websites

• FuseCash Lending Corp
• Metacash
• Cashcano
• Andali cash
• Bilis Cash
• PesoQuick
• Tala Pera
• KuhaCash
• Huaxin Loan
• Catchkash
• Cash2go
• Peroloan
• Bee Pera
• Valor Credit
• Pagiram Cash
• Fintastic Lending Corporation
• FIS Credit
• Project Duo Events and Marketing Corporation
• Fake Megan Credit and Financing Corporation
• Fake CAVITE TMC LENDING INC

READ: How to spot 'red flags' in online lending apps

The SEC urged the public to report illegal OLPs through its hotline 14732, iMessage Portal at https://imessage.sec.gov.ph/ and official website https://www.sec.gov.ph.

The corporate regulator said that the official list of authorized OLPs can be found through this link: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/. — VBL, GMA Integrated News