Senator Sherwin Gatchalian on Sunday referred to as on the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) to be proactive in detecting on-line lending functions that reportedly harass and threaten debtors who fail to pay on time.
Interviewed on Super Radyo dzBB, the lawmaker stated that on-line lending functions have now turn into “sophisticated,” with some not present process BSP registration, and being able to trace down the place their victims are and have them profiled.
“Dapat maging proactive din ang BSP, kasama ang SEC dahil ang SEC nire-regulate naman ang mga korporasyon. Dapat maging lively sila na ma-detect ‘yung mga ganitong hindi magaganda at i-report na kaagad sa Apple Store or sa Google Play Store para matanggal,” Gatchalian said.
(The BSP should also be proactive, along with the SEC because the SEC regulates corporations. They should be active in detecting these unsavory practices and immediately report them to the Apple Store or the Google Play Store to be deleted.)
In May, Gatchalian filed Senate Resolution 626 directing the Senate Committee to conduct an inquiry into the proliferation of unauthorized online lending applications and abusive lending corporations.
“[I]t is important that measures are in place that will safeguard the interests of the consumers against trade malpractices, false and misleading advertisements, and other types of misrepresentations,” said Gatchalian in his resolution.
“It is equally important that we make sure that such measures are properly implemented and complied with, including ensuring that these applications are authorized to operate by proper government authorities and that they are operating in accordance with the rules and regulations, fair practices and responsible lending.”
The Philippine Association of Loan Shark Victims Inc. (PALSVI), earlier filed cyberbullying, harassment, grave threat, and data privacy complaints against 15 online lenders with the Philippine National Police Anti-Cybercrime Group.
PALSVI’s complaints stemmed from the harassment, humiliation, and threats skilled by its members from the accumulating brokers of on-line lenders in the event that they have been unable to pay their loans on time.
Gatchalian additional reminded Filipinos to be cautious of individuals or organizations that provide to lend them cash in a neater and quicker method.
“May catch ‘yan o merong kapalit ‘yan dahil ang pagpapautang merong regulasyon ‘yan eh. Lahat ‘yan dumadaan sa BSP. Ang pagpapautang, meron din ‘yang proseso. Pero kung napakabilis…mag-ingat ka kaagad dahil may kapalit ‘yan na hindi maganda,” he added.
(It has a catch or there’s a consequence as a result of lending has rules. All of the organizations undergo the BSP. Lending additionally has a course of. But if it is too quick… watch out as a result of which will have a destructive end result.) — DVM, GMA Integrated News
Source: www.gmanetwork.com
