MANILA, Philippines, March 2, 2026 — The Cybercrime Investigation and Coordinating Center (CICC) has issued a stern warning to Filipinos who frequently borrow money through online lending applications, cautioning them against predatory practices that have already victimized thousands across the country.

The agency revealed that complaints against illegal online lending platforms have surged in the first two months of 2026, with nearly six hundred cases filed, significantly higher than the same period last year. CICC Executive Director Renato “Aboy” Paraiso disclosed that more than eight million pesos have been stolen from unsuspecting borrowers in less than two months. 

“Sa loob ng wala pang 2 buwan ngayong 2026, mahigit P8 million na ang nanakaw sa bulsa ng ating mga kababayan dahil sa mga (online lending apps) na ‘to,” he said.

Authorities emphasized that many of these apps lure users with promises of instant approval but conceal exorbitant fees and resort to harassment tactics when borrowers fail to pay. 

CICC information officer Shekaina Lim explained, “The collaboration seeks to move Filipinos toward a ‘courageous employment’ of online financial services by stripping away the fear and negative impressions created by illegal operators.”

To combat these schemes, the CICC has partnered with Copperstone Lending, Inc. to establish a safer lending environment. The memorandum of agreement signed in Quezon City aims to protect borrowers from abusive practices and promote transparency in digital lending.

The crackdown comes as an estimated 12 million Filipinos rely on retail online lenders, making them vulnerable to exploitation. In previous initiatives, the CICC also worked with the Consumer Lending Association of the Philippines to strengthen cybersecurity safeguards for borrowers, highlighting the scale of the problem and the urgent need for regulation.

Officials urge the public to exercise caution when borrowing online and to verify the legitimacy of lending platforms before engaging. The agency reiterated that while borrowing may provide temporary relief, falling prey to illegal operators could lead to financial ruin and psychological distress.