The Securities and Exchange Commission (SEC) has warned the public against dealing with fake online lending platforms posing as MocaMoca and Copperstone Lending Inc., citing reports of fraud, harassment, and possible misuse of personal data.
According to the SEC, several websites, mobile apps, and ysocial media pages falsely claimed to be connected with the lending firm. These platforms allegedly used the company’s name and branding without authorization to lure borrowers and collect sensitive information.
The reported activities include suspicious online loan applications, phishing schemes, abusive collection tactics, unauthorized financial transactions, and threats against consumers. Some borrowers also complained about harassment and fake collection messages linked to the bogus platforms.
Among the websites identified were buklodservices.com, flowforthventures.com, and jitsconstruction.com.
Copperstone Lending said its internal investigation found that several phone numbers and transactions mentioned in complaints were not part of its official systems, confirming that the activities were unauthorized.
The SEC urged the public to be extremely cautious when using online lending apps and dealing with individuals claiming to represent financing companies. It also reminded legitimate lending firms to closely monitor their digital platforms and immediately report fake websites, apps, or social media accounts using their identities.
The warning highlights growing risks from fake online lending platforms in the Philippines, including identity theft, financial fraud, and abusive collection practices. The SEC’s advisory aims to protect consumers from scams that exploit the rising demand for fast digital loans.
