DMW intensifies fight against predatory lending, launches 24/7 hotline for OFWs

The Department of Migrant Workers (DMW) is intensifying efforts to combat predatory lending and enhance mental health support for overseas Filipino workers (OFWs) in Hong Kong, following an alarming rise in suicide cases linked to debt.

Secretary Hans Leo J. Cacdac announced that the DMW has partnered with the Hong Kong Police Force to address high-interest loans pushing OFWs into financial distress, with rates as high as 48 percent.

The DMW is integrating financial literacy training into Post-Arrival Orientation Seminars (PAOS) and collaborating with Hong Kong authorities to trace and hold accountable those involved in exploitative lending practices.

In response to rising suicide cases among OFWs, the DMW and Overseas Workers Welfare Administration (OWWA) are launching a 24/7 hotline manned by trained former OFWs at the DMW One-Stop Shop Action Center in Makati City.

This initiative aims to provide proactive support for both financial and emotional crises faced by OFWs abroad, addressing the growing concerns over mental health challenges.