Recently in the City of Pasig, law enforcers raided an online lending firm and arrested one hundred and sixty-eight employees over alleged harassment of several borrowers, according to a Philippine News Agency (PNA) news article. It should be noted that one of the victims committed suicide due to harassment over money borrowed from the raided firm.
For the newcomers reading this, this is the latest development about local companies that lend money to clients who later get harassed or threatened as ways to compel them to pay back. There were similar developments that happened over the past few years which you can see by clicking here, here, here and here.
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The Presidential Anti-Organized Crime Commission (PAOCC) on Tuesday said an inter-agency operation in Pasig City has resulted in the arrest of 168 employees of an online lending company allegedly harassing borrowers.
In a statement, the PAOCC said the operation was conducted at the 22nd floor of Robinsons Equitable Tower in Pasig City, the main operating hub of Creditable Lending Corporation, the company behind the online lending application Easy Peso.
The operation was led by the National Bureau of Investigation (NBI), PNP Anti-Cybercrime Group (ACG), and the PNP-CIDG, with support from the PAOCC, the National Privacy Commission (NPC), and the Securities and Exchange Commission (SEC) by virtue of a Warrant to Search, Seize, and Examine Computer Data (WSSECD) issued by the Regional Trial Court Branch 46 in Manila.
Authorities seized hundreds of computers and several company-issued mobile phones allegedly used for harassment during debt collection, along with hundreds of pre-registered SIM cards, text blasters, and harassment scripts.
The raid followed months of surveillance and investigation, aided by the testimony of a former employee who came forward to expose how the company misled and harassed borrowers.
According to the PAOCC, some victims were directed to send payments to personal GCash or bank accounts under the guise of clearing their loans, only to be contacted again by collectors despite having paid.
This operation comes just days after a man from Valenzuela City took his own life after suffering harassment from individuals connected with Easy Peso.
“May isang buhay na nawala dahil sa pang-aabuso ng isang lending app. Hindi utang ang pumatay sa kanya kundi ‘yung walang-awang pangha-harass (A life was gone due to the abuses of a lending app. The victim did not die due to his debt, but due to cruel harassment),” PAOCC Executive Director Gilbert Cruz said.
“Sa bawat biktima, huwag kayong matakot. Hindi kayo nag-iisa. Nandito ang gobyerno na handa kayong tulungan (To each victim, don’t be scared. You are not alone. The government is here ready to help you) ,” he said
Meanwhile, the SEC is reviewing the company’s legal and regulatory compliance, as its operations appear to have exploited the system while falsely claiming legitimacy.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there are still a lot of online lending firms that planned to harass or threaten its borrowers? Do you know anyone who borrowed money from such firms only to get threated to pay back? Did you notice the presence of online lending firms in your local community?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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Author Carlo Carrasco 