NBI, PNP raid online lending firm, arrest 168 for harassment

On Tuesday afternoon, authorities raided an online lending company's offices in Pasig City, arresting 168 employees for allegedly harassing borrowers.

The operation was conducted by the NBI, PNP Anti-Cybercrime Group (ACG), and the PNP-CIDG with support from the PAOCC, NPC, and SEC based on a warrant issued by the Regional Trial Court Branch 79 in Manila.

During the raid, authorities seized hundreds of computers, mobile phones, pre-registered SIM cards, text blasters, harassment scripts, and the company's mother server used for text blasts and collecting loan payments.

A former employee testified that borrowers were misled into making payments to personal accounts under the guise of clearing their loans, with some experiencing abuse and threats.

The company is now under review by the Securities and Exchange Commission (SEC) for exploiting regulatory systems while falsely claiming legitimacy, and those apprehended may face charges under various financial regulations including the Data Privacy Act of 2012, Truth in Lending Act, and Financial Products and Services Consumer Protection Act.