One-stop shop for online lending victims launched

The increasing number of complaints about abusive online lending platforms (OLPs) has prompted government agencies, led by the Presidential Anti-Organized Crime Committee (PAOCC), to create a one-stop shop for victims.

- By EJ MACABABBAD

PAOCC yesterday launched the initiative in collaboration with the Department of Justice, Philippine National Police (PNP), Securities and Exchange Commission (SEC) and the National Telecommunications Commission (NTC).

Since April, PAOCC has received over 13,000 reports of unauthorized OLPs charging exorbitant fees and engaging in harassment.

"We don't want complainants to have a difficult time going to the PNP, to the SEC and to the NTC. So here at the one-stop shop, we will be the ones processing their complaints," PAOCC executive director Gilbert Cruz told The STAR.