The Cybercrime Investigation and Coordinating Center (CICC) teamed up with the private sector to ensure a safe and secured lending and borrowing environment for 12 million consumers and 170 lending agencies.
CICC executive director Alexander Ramos said the memorandum of agreement (MOA) with the Consumer Lending Association of the Philippines (CLAP) would help sustain the industry’s growth, given the promising outlook for the digital economy.
“This partnership will allow the protection of these online consumers,” he said.
Ramos said victims of natural disasters such as typhoon Kristine would need emergency funds which are usually addressed by online lending companies.
“We do not want these survivors of disasters to face another disaster by being trapped to unscrupulous online lending companies,” he said.
CLAP president Francisco Roberto Mauricio said they would work closely with CICC and other government agencies to ensure a safe lending and borrowing environment for Filipinos.
“Not just awareness building, but we will do our best as a private sector to cooperate with the government and CICC. To help prevent and eradicate crimes against security done on digital platforms. We’re very happy to be here,” he said.
Mauricio said some consumers are vulnerable to loan sharks, harassment by collectors and various forms of cybercrime such as identity theft and phishing.
“So actually, our pursuit is the best way to serve the underserved through financial technology, financial lending. And by keeping them safe and secure, we will increase financial inclusion,” he said.
Ramos appealed to the online lending consumers who became victims of cybercrimes to call the Inter-Agency Response Center (IARC) Hotline 1326.
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