PURECASH, SUGERCOIN, TCREDIT, GOLDAPPLE, and SPENDCASH
THE FOLLOWING ONLINE LENDING APPLICATIONS: PURECASH, SUGERCOIN, TCREDIT, GOLDAPPLE, and SPENDCASH ARE NOT AUTHORIZED TO ENGAGE IN LENDING ACTIVITIES
Date Posted: 29 September 2022
PURECASH SUGERCOIN TCREDIT GOLDAPPLE SPENDCASH
SEC Facebook
The public is hereby WARNED that the following
ONLINE LENDING APPLICATIONS
(OLAs)
are not operated by any registered Lending Companies with Certificates of Authority (CA)
to engage in lending activities nor are they in the List of Recorded Online Lending Platforms,
hence,
ARE NOT A
U
THORIZED TO ENGAGE IN LENDING ACTIVITIES
:PURECASH SUGERCOIN TCREDIT GOLDAPPLE SPENDCASH.
Persons who engage in lending business activities without proper authority from the
Commission are criminally liable under
Section 12(1) and Section 12 (2)(a) of R.A. No. 9474
and can be penalized with a
fine of not less than Ten Thousand Pesos (P10,000) and not more
than Fifty thousand pesos (P50,000.00) or imprisonment of not less than six months but not
more than ten (10) years or both, at the discretion of the court
.
Further, the
Department of Justi
ce (DOJ) Office of the Cybercrime
has issued
a
Public
Advisory against Online Lending Companies (OLCs) engaged in unfair/abusive collection
practices.
The
said
advisory
can
also
be
accessed
through
this
link
https://cybercrime.doj.gov.ph/public
–
advisory
–
on
–
online
–
lending
–
companies/
.
The public is advised
NOT TO TRANSACT
with the foregoing OLAs or with any OLAs not
in the List of Recorded Online Lending Platforms an
d to take the necessary precaution in dealing
with individuals representing the above
–
named OLAs.
Should you have any information regarding the operation of the above listed OLAs or any
OLAs engaged in lending activities who are not in the
List of
Recorded Online Lending Platforms
, you may send your reports and or complaints to the
Enforcement and Investor Protection
Department
(EIPD)
at email at
[email protected]
or visit EIPD at The SEC Headquarters, 7970
Maka
ti Avenue, Salcedo Village, Bel
–
air, Makati City.
For complaints against Registered Lending Companies and OLAs in the
List of Recorded
Online Lending Platforms
the SEC’s Corporate Governance and Finance Department (CGFD) has
jurisdiction over registered
l
ending
and
financing companies
with Certificate of Authority (CA).