PICTURE borrowing money to cover essential expenses, only to be harassed, have your privacy violated, or feel trapped by predatory terms. Unfortunately, that's the harsh reality for many in the online lending industry in the Philippines.
PICTURE borrowing money to cover essential expenses, only to be harassed, have your privacy violated, or feel trapped by predatory terms. Unfortunately, that's the harsh reality for many in the online lending industry in the Philippines.With public trust in freefall and financial inclusion efforts suffering, the Cybercrime Investigation and Coordinating Center is stepping in.
'We need to guide borrowers toward legitimate platforms to protect them from predatory practices.'He also emphasized how some borrowers end up paying several times the original loan amount due to exploitative schemes.Mauricio echoed these concerns, underscoring the need for fair lending practices. He stressed that making borrowers uncomfortable with legitimate lending options pushes them toward informal lenders, exposing them to even greater risks and harassment.
Juanhand Unite For Safer Lending
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