PAOCC launches campaign against abusive OLAs

The Presidential Anti-Organized Crime Commission (PAOCC) launched a major campaign against abusive online lending applications (OLAs) on Monday and introduced a one-stop shop for complaint handling.

PAOCC is coordinating with the Philippine National Police - Criminal Investigation and Detection Group, the Securities and Exchange Commission, and the National Telecommunications Commission to address complaints.

Executive Director Undersecretary Gilbert Cruz emphasized that OLAs are causing significant harm to Filipinos through financial, psychological, and reputational damage.

Over 13,000 complaints were received in April and May alone, with about 100 complainants providing sworn statements during the launch of the new complaint desk.

The SEC warned Filipinos against using unregistered or unauthorized online lending applications due to risks like abusive collection practices and privacy violations.

During the launch, a victim named Julie shared her experience of severe psychological distress caused by an AI-generated image posted on social media.

Cruz stressed that the Marcos administration remains committed to protecting consumers and holding violators accountable under the law.