SEC Philippines: How To File A Complaint Against Lending Or Financing Companies?

12/8/2022

How do you file a complaint with the SEC Philippines?

If you are in the Philippines and have any problem with your debts in a financial company, here are the steps on how to report to the Securities and Exchange Commission Philippines (SEC).

1. Download the Complaint Form from the SEC Philippines by visiting this link: https://bit.ly/LendingComplaintForm

Note: The form will automatically download. If not, try to refresh your web browser.

2. Fill out the Complaint Form completely and accurately.

3. Attach all evidence or proof that supports your complaint. This may include the disclosure statement, amortization schedule, receipts, promissory notes, and other relevant documents in connection with your loan transaction.

4. Submit one Complain Form per lending or financial company.

5. Together with one valid government issued ID, submit the Complaint Form and all evidences to cgfd_md@sec.gov.ph

Some important reminders from SEC:

Only registered Foundations may become respondent/s to your complaint with the CGFD. For complaints against individuals or companies operating as a Foundation without having previously registered with the SEC (i.e. an unregistered entity or person soliciting donations from the public allegedly for charitable use), please send your email to Enforcement and Investor Protection Department at epd@sec.gov.ph
In case the allegations are about unauthorized investment or solicitation activities and/or an organization pretending to be a registered Foundation and collecting funds or donations, please also refer the concern to the SEC-Enforcement and Investor Protection Department (SEC-EIPD) at epd@sec.gov.ph.
In case the allegation is about intra-corporate dispute (i.e. The dispute is between a Foundation and its members or officers involving the internal affairs of the Foundation), please seek redress with the Regional Trial Court which has jurisdiction over the principal office of the corporation, partnership, or association concerned, as per A.M. No. 01-2-04-SC.

For other information, you can read the SEC Philippines Website: https://www.sec.gov.ph/

13 Comments

Charisse Mae T. Peralta

6/25/2023 07:45:07 pm

What if someone from Facebook falsely claims that they are registered with the SEC and threatens me with canceling the loan since they did not inform me that I need to deposit 10% of the loan amount to get the money from them? They also sent a screenshot of the loan agreement with my signature that they got from the documents I sent; they even asked me to go to their office to cancel the loan personally but still need to pay it every month, and another document with my signature regarding the cancellation that was not even sent to us to read and agree. I haven't signed or agreed to anything yet. They have all the documents proving that the company is legit, and when I searched for their company on the list of lenders that I found on Google, I could not find the company name, and they also sent a link that looks exactly like the official website, and their company is now on the list. Their website no longer exsist,

Ralph link

6/25/2023 11:01:05 pm

Hello Charisse, my advice to you is that you better go to the SEC office to confirm that they are registered and explain the circumstances because if they are not SEC registered and they do not have a secondary license from the SEC, what they did is illegal. And why do you need to deposit 10% to get a loan from them right away? Is it for collateral? You also said that you did not sign or agree to anything, is that right?

sonny galpo

7/17/2023 11:50:10 pm

i would like to ask if Smart Investment and & Finance Corporation is Legitimate or not?They have documents to prove they are legitimate and collecting money for loan borrower, and i am one of the victim of this company. I ask them to return back my money when i notice they are scammer and they did no return any single centavo that i send thru their BANK CIMB Bank 20867601326018
CIMB Name: John lloyd Vecina Juanillo. They collected me Php 37K.
Hope this modus of lending company will stop and also on FB many lending company offering their services.

THANKS and best regards.

7/20/2023 07:42:17 am

Hello Sonny, upon searching "Smart Investment and Finance Corporation" via the SEC Check App, https://eramp.sec.gov.ph/, and https://secexpress.ph/application-form, there are no records that show up.

I suggest, visit the SEC office so you can confirm with them.

If you are planning to file a complain, you can read my separate blog post here: http://www.kuripotpinoy.com/blog/what-to-do-if-you-get-scammed-in-the-philippines

Judie Tseng

7/21/2023 12:56:27 am

Hello sir/ma'am,
My concern is I applied a loan in the company name Excellent Era Lending Corp. I didn't received my loan amount. But company told me to still pay the loan amount plus 10%daily interest if I fail to pay.

In my application form I didn't write my middle initial. And my document I submitrd there is middle initial.
So, to edit the mistake lending company ask me to pay 10k, after completely editing the error, another issue come and ask me to pay again 20k to requesting new otp code, and after that, company ask me to pay 35k for loan insurance, after that ask me again to pay 45k for completing the process. Which I refuse to pay because i don't have money. I want to get loan because I need money but what happened, it's opposite they ask money from me. Now I recieve harrassment and treatent me that their lawyer will sent to my home together the policy I signed thru online and they arrest me. How is that possible if I did not received single money instead I send money to the company.

I hope you can give advice and report company like this

7/24/2023 05:04:30 am

Hello Judie, the SEC warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/.

Bess

8/5/2023 07:30:45 am

Sir Ralf, hope you can help me as well how to sue these scam lending company they already took 85k in me and until now I didn’t received my loan. They said if i will get a new otp code i can get the 200k which I applied for loan but they said i need to deposit 20k then my account happened mistake they said so i need to give 40k then they ask me again 25k but only 15k i gave for I don’t have money anymore for otp again then after receiving 15k they said i need to deposit again 20k for my credit score. I want to punish this scam company sir please please do help me. I am begging i need my money back.

8/5/2023 07:25:53 am

Hi po, thesame happened to me po today. I already sent 85k already to them but still they are asking for additional 20k for credit score. Can someone advice me what to do? Coz i am here in Dubai I don’t know what to do.

8/9/2023 08:16:20 am

Hello Bess! It looks like you were scammed. First of all, why are you the one who needs to give them money? That's why you are taking a loan; you need money yourself. Did you know that there are government agencies that you can approach once you fall victim to a scam? What exactly are these agencies?

📌 Bangko Sentral Ng Pilipinas
A. Mabini Street, Malate, Manila 1004

Consumer Protection and Market Conduct Office Strategic Communication and Advocacy
Email: consumeraffairs@bsp.gov.ph
Direct Line: (02) 5306-2584 | (02) 8708-7087
Trunkline: (02) 8708-7701 loc. 2584
Facsimile: (02) 8708-7088

Report frauds, scams, and abuses relating to products and services of BSFIs. BSFIs refer to Banks, Non-Banks with Quasi-Banking Functions, Non-Stock Savings and Loan Associations, Pawnshops, Foreign Exchange Dealers, Money Changers, Remittance Agents, E-Money Issuers, Money Service Businesses, and Virtual Currency Exchanges under BSP supervision.

📌 Securities and Exchange Commission
Ground Floor, North Wing Hall, Secretariat Building PICC Complex, Vicente Sotto Street, Pasay City 1307

Corporate Governance and Finance Department (Reports related to Lending)
Email: cgfd_md@sec.gov.ph
SEC i-Messagemo: http://imessagemo.sec.gov.ph
Telephone: (02) 8818 5476; (+63) 9260170248

Enforcement and Investor Protection Department (Reports related to Investment Scams)
Email: epd@sec.gov.ph
Telephone: (02) 8818-6337; (+63) 961-519-7829;
(+63) 961-684-4088

Report fraud, scams and abuses related to lending and investment with SEC registered companies.

📌 Insurance Commission
1071 United Nations Avenue, Manila

Public Assistance and Mediation Division
Email: publicassistance@insurance.gov.ph
reportscam@insurance.gov.ph
Telephone: (02) 8523 8461 to 70 local 103 or 127;(02) 8404 1758

Report concerns about insurance products.

📌 National Bureau of Investigation
NBI Building, Taft Avenue, Ermita, Manila

Anti-Fraud and Action Division
Email: afad@nbi.gov.ph
Telephone: (02) 8523 8231 to 38 local 3529 or 3456

Cyber Crime Division
Email: ccd@nbi.gov.ph
Telephone: (02) 8523 8231 to 38 local 3455; (02) 8252-6228
Complaint and Recording Division
Telephone: (02) 8523-8231 to 38 local 3518

Report investment scams, cybercrime, and other criminal abuses.

📌 Philippine National Police

Anti- Cybercrime Group
PNP National Headquarters
Camp General Crame, EDSA, Quezon City
Email: acg@pnp.gov.ph
Telephone: (02) 3414 1560
Mobile: 0998 598 8116

📌 National Telecommunications Commission
NCR office address: BIR Road, East Triangle, Diliman, Quezon City

Consumer Welfare & Protection Division
Email: consumer@ntc.gov.ph
Telephone: (02) 8920 4464; (02) 8926 7722; (02) 8921 3251

roxanne binato

8/1/2023 04:50:18 am

hi gusto coh i reklamo ang d makatarungan ginawa ng online lending apps sobra po sila s pananakot at sobrang taas ng intres ano po ang kailangan gawin gusto ko sila ireklam

8/1/2023 11:30:14 pm

Hello Roxanne, the SEC Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/#gsc.tab=0

You can also read my separate blog post:

How to file a complaint against Lending or Financing Companies?
http://www.kuripotpinoy.com/blog/sec-philippines-how-to-file-a-complaint-against-lending-or-financing-companies

For more information about Personal Finance and Development, visit www.kuripotpinoy.com/

Angeneth monares

8/18/2023 05:38:25 pm

Ma'am/sir Pwedi po ba makahinge ng tulong may inaplayan po akong online lending app (PESO CASH) (PAUTANG PESO) grabi po Yung pananakot nila tinitxt at tinatawagan lahat ng contact ko at sinesend nila pic ko messenger Sana po matulungan nyu ako

8/21/2023 11:08:23 pm

Hello Angeneth! Did you know that the Securities and Exchange Commission Philippines warned that those who engage in abusive debt collection practices may now be criminally prosecuted for violation of Section 8(d) of the FCPA.

Rule 8, Section 4.4 of the recently issued SEC FCPA Rules and Regulations (IRR) states that financial service providers and their collection agencies, counsels, and other authorized third-party representatives are prohibited from employing abusive collection or debt recovery practices against their financial consumers.

Rule 15, Section 1 of the SEC FCPA IRR further provides that any person who willfully violates its provisions shall be penalized with a maximum fine of P2 million or imprisonment for five years, or both.

Additionally, financial service providers, including entities engaged in lending and financing, are required to respect the privacy and protect the data of their financial consumers. Such entities are required to inform financial consumers if their data will be shared with third parties.

To see the list of licensed lending and financing companies and their registration status, please visit the Lending and Financing Companies corner on the SEC website at
https://www.sec.gov.ph/lending-companies-and-financing-companies-2/lending-companies-and-financing-companies/#gsc.tab=0

To see the list of recorded online lending platforms, please visit this link from SEC Philippines: https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms/#gsc.tab=0

You can also read my separate blog post:

How to file a complaint against Lending or Financing Companies?
http://www.kuripotpinoy.com/blog/sec-philippines-how-to-file-a-complaint-against-lending-or-financing-companies

For more information about Personal Finance and Development, visit www.kuripotpinoy.com/