THE Securities and Exchange Commission (SEC) has issued a series of advisories warning the public against fraudulent online lending schemes involving corporate impersonation as digital scams continue to proliferate.
In separate notices, the regulator flagged multiple entities falsely using the names of legitimate companies to lure borrowers into unauthorized and potentially deceptive transactions.
Among these is Carmen Credit 888 Corp., whose corporate identity had allegedly been used by unscrupulous individuals operating fake social media accounts, websites and online lending platforms.
The SEC said these schemes typically involve advance-fee arrangements, requiring victims to pay upfront charges before a supposed loan is released.
Carmen Credit said that it does not require advance payments from borrowers.
The commission also warned against a fraudulent website posing as affiliated with Project Duo Integrated Communications Corp..
The SEC said the website was neither owned nor authorized by the company, and that any solicitations, payment instructions, or requests for personal data originating from the platform were unauthorized and may be part of a broader scam involving identity theft and data misuse.
In a separate advisory, the regulator identified unregistered online lending platforms “Peso Maya” and “Pesolending” for falsely using the name of Micropinnacle Technology Corp.
The commission said that these platforms were not affiliated with the company and were not authorized to offer lending services, noting that only firms registered with the SEC and with properly recorded online lending platforms may legally operate.
The SEC warned that such activities may constitute violations of laws on fraudulent misrepresentation, unauthorized lending, and unlawful processing of personal data, potentially exposing those involved to administrative, civil, or criminal penalties.
It urged the public to exercise caution when dealing with online lenders, particularly those requesting advance payments or sensitive personal information, and to verify the legitimacy of companies and platforms through official SEC channels.
The regulator also encouraged individuals who may have encountered or transacted with these entities to report the incidents for proper investigation, reiterating its commitment to curb illegal lending operations and protect financial consumers.
