The Philippine Consulate General in Frankfurt advises the Filipino Community to exercise caution when engaging with certain online lending platforms that have recently been advertised on Facebook.
The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) have verified that the following entities are NOT under their supervision and are not authorized to operate as lending or financing companies:
- Pinansyal Moves
- Tiwala Lending Prime
- Pautang OFW sa Norway
- Pinoy Pay Prime
- CredXpresslening
These platforms are NOT registered with the SEC as Lending Companies (LCs) or Financing Companies (FCs). They are also NOT included among the online lending platforms officially registered with the SEC.
The public is reminded to transact only with SEC-registered and legitimate financial institutions. Engaging with unregistered lenders may expose individuals to scams, fraud, and unfair lending practices.
For a list of registered lending and financing companies,
visit the official SEC website: https://www.sec.gov.ph