In a statement, the agency said the agreement is aimed at protecting clients of some 170 local lenders who are particularly vulnerable to being exploited by unscrupulous players in the wake of natural calamities like Tropical Storm Kristine (international name: Trami).
The deal was signed on Oct. 18, 2024, at the National Cybercrime Hub in Bonifacio Global City, Taguig.
CICC executive director Alexander Ramos emphasized the importance of the partnership in fostering a secure digital lending environment.
“We do not want these survivors of disasters to face another disaster by being trapped to unscrupulous online lending companies,” he said, explaining that disaster survivors, such as those impacted by the latest weather disturbance, often turn to online lenders for emergency funds.
CLAP president Francisco Roberto D.C. Mauricio affirmed the industry’s commitment to work with the government to combat cybercrimes such as identity theft, phishing, and harassment by unscrupulous lenders.
“Not just awareness building, but we will do our best efforts as a private sector to cooperate with the government and CICC to help prevent and eradicate crimes against security done on digital platform,” he said.
Mauricio stressed that enhancing cybersecurity will increase financial inclusion, providing safer access to loans through financial technology and lending platforms.
The agreement underscores the government’s and industry’s joint effort to create a more resilient lending ecosystem.
Victims of cybercrime related to online lending are encouraged to report incidents through the Inter-Agency Response Center hotline, 1326.
This partnership is a key initiative during Cybersecurity Month and signals the growing importance of safeguarding the digital financial sector in the Philippines, ensuring consumer protection and sustainable industry growth.
