THE Securities and Exchange Commission (SEC) has warned the public against unauthorized online lending and investment activities, flagging a fraudulent social media page, an unlicensed investment scheme and an illegal lender.
In an advisory, the regulator cautioned consumers against engaging with a fake Facebook page impersonating H.K.K. Lending Company, Inc..
The SEC said the legitimate company does not transact through digital platforms and conducts all business in person at its registered office in Cabadbaran City, and that any online page using its name, logo, or branding was unauthorized and not affiliated with the firm.
It was noted that the fraudulent page redirects users to messaging platforms such as Telegram, where victims may be asked to send payments or disclose sensitive personal information, common indicators of online lending scams.
The commission urged the public not to remit money, submit documents, or share personal data through such platforms, warning of risks including financial loss, identity theft, and data misuse.
In another advisory, the SEC flagged “Marexx Gadgets and Accessories Shop,” represented by Jerold Escartin Yu, for allegedly soliciting investments without the required license.
While registered with the Department of Trade and Industry (DTI) as a retailer of mobile phones and accessories, the entity is not registered with the SEC as a corporation or partnership and has no authority to offer investment contracts.
The regulator said Marexx promoted short- and long-term investment schemes promising returns of up to 15 percent per month — rates described as indicative of potential investment fraud.
Under the Securities Regulation Code, the offering of securities such as investment contracts must be registered with the SEC, and sellers must be properly licensed.
Violations may result in penalties of up to P5 million in fines or imprisonment of up to 21 years.
The commission also cited the Financial Products and Services Consumer Protection Act, which prohibits deceptive investment schemes, including Ponzi-type operations.
Separately, the SEC warned against transacting with Mary Ann Toquib Andaya, who was found to have engaged in lending activities in Bukidnon without securing the necessary registration and authority.
Investigations showed that Andaya facilitated loans funded by individual “investors,” charging interest rates of up to 20 percent and operating a structured collection system.
Reports also indicated alleged harassment and coercive practices in debt collection.
The commission said such activities violate the Lending Company Regulation Act of 2007, which requires all lending entities to register and obtain a certificate of authority before operating.
The SEC reiterated its call for the public to remain vigilant against schemes conducted through social media and informal channels, emphasizing that legitimate lending and investment firms do not require advance fees, guarantee high returns, or solicit exclusively online.
Consumers who may have encountered or have fallen victim to such schemes are encouraged to report incidents to the SEC and other relevant authorities.
