The Securities and Exchange Commission (SEC) reminded the public not to engage with unrecorded Online Lending Platforms (OLPs), including mobile apps and websites that are unauthorized to offer, process, or grant loans through Google Play Store, Apple App Store, or any online portal.

The SEC noted that these OLPs violate Memorandum Circular No. 10, Series of 2021, which imposed a moratorium on the launch and operation of new online lending platforms effective November 2, 2021. Platforms that continue to operate without SEC authorization risk administrative sanctions, including cease and desist orders, permanent closure, blacklisting, and legal action.

The SEC emphasized that only authorized OLPs listed on its official website are allowed to operate legally. The full list can be accessed here:
List of Recorded Online Lending Platforms https://www.sec.gov.ph/lending-companies-and-financing-companies-2/list-of-recorded-online-lending-platforms .

For inquiries, complaints, or reports of illegal lending activities, the public may contact the SEC Financing and Lending Companies Department at 02) 8818-5990 / 0929-626-3095 or submit a message via the SEC iMessage Portal at imessage.sec.gov.ph.

Full advisory: SEC Advisory on Unrecorded Online Lending Platforms https://www.sec.gov.ph/advisories-2026/advisory-re-unrecorded-online-lending-platforms-2/#gsc.tab=0)