The Securities and Exchange Commission (SEC) has issued a warning to the public about an unauthorized website and a Facebook page that appear to be misusing the identities of two licensed financing companies.
The SEC flagged the website pipofinancing.com for allegedly using the corporate identity of PIPO Financing (PH), Inc., and a Facebook page named “Cash-express Philippines” for allegedly using the name and registration details of Cash-Express Philippines Financing, Inc.
Both companies have informed the SEC that they do not own, operate, manage, or authorize online platforms and have no affiliation with the activities associated with the website and Facebook page.
The SEC reported that the website associated with PIPO Financing displayed the company's corporate information, creating a false impression that it was the firm's official online platform.
The Facebook page allegedly used Cash-Express' corporate name, business identity, SEC registration details, and other identifying information without authorization.
The commission stated that fraudsters have increasingly impersonated licensed financing and lending companies by using legitimate corporate names, logos, registration details, and business addresses to deceive consumers.
The SEC urged the public to verify whether financing and lending companies are duly licensed and whether websites, mobile applications, and social media accounts are officially associated with those companies before transacting.
The regulator advised consumers not to disclose personal information, bank account details, passwords, or one-time passwords (OTPs), and to avoid paying processing or advance fees through unverified platforms.
The SEC encouraged individuals who may have interacted with the website or Facebook page to report the incidents to the SEC and appropriate law enforcement agencies.
