The Securities and Exchange Commission (SEC) has issued a
public warning against PESOMOO, an online lending platform that
allegedly engaged in abusive collection practices and other unlawful
activities.
The SEC said it verified that PESOMOO is not registered
with the commission and has not been authorized to operate as an online lending
platform or conduct lending activities.
The warning follows reports and complaints accusing the
platform of imposing excessive interest rates and using deceptive or unfair
methods in dealing with borrowers.
Among the allegations are the use of threatening and abusive
messages, unauthorized access to borrowers' contact lists, and the sending of
harassing communications to people connected to borrowers. The platform has
also allegedly threatened to expose borrowers' personal information publicly
through social media.
Of particular concern, the SEC noted allegations that some
of these actions occurred even before borrowers' obligations had reached their
maturity dates or had become due and demandable.
SEC Urges Public to Avoid Transactions
In light of the findings, the SEC strongly advised the
public to avoid conducting any transaction with PESOMOO.
Individuals should not provide personal or financial
information to the platform, upload identification documents, or disclose
banking credentials. The public should also refrain from sending payments,
processing fees, advance fees, or other loan-related charges through the
platform.
These precautions are especially important because
fraudulent or unauthorized lending operations may use personal information not
only to facilitate transactions but also to pressure or intimidate individuals
during collection attempts.
Verify Lending Platforms Before Borrowing
The SEC reminded borrowers to confirm whether an online
lending platform is connected to a financing or lending company that is
properly registered and authorized to operate.
The commission maintains a List of Recorded OnlineLending Platforms where the public can check whether an online lending
service has been recorded with the SEC.
Borrowers should also remain wary of individuals or groups
offering loans through social media and messaging applications, particularly
when they demand upfront deposits, advance fees, penalties, taxes, or other
payments before releasing loan proceeds.
Suspicious lending offers should be treated with caution. A
legitimate-looking website or mobile application does not, by itself, establish
that an operator is legally authorized to provide loans.
Report Suspicious Lending Activities
The SEC encouraged individuals who have been contacted by or
have transacted with PESOMOO to report their experiences to the commission and
other appropriate law enforcement and cybersecurity authorities.
The public is likewise urged to report suspected fake
lending applications, abusive collection activities, phishing attempts, and
other questionable online lending schemes.
For verification of registered financing and lending
companies and their authorized online lending platforms, the public may consult
the SEC's official website and the SEC Check App.
The SEC emphasized that it remains committed to pursuing
unauthorized, fraudulent, and deceptive lending operations conducted through
websites, mobile applications, online platforms, and social media channels.
The warning was issued by the SEC on August 13, 2026, in
Makati City, Philippines.
For inquiries, complaints, or requests for assistance, the public may contact the SEC through its official iMessage platform.
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