Securities and Exchange Commission

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  • REQUEST SUBMITTED

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    Date: 2022-05-13 08:50:43.647481

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    Date: 2022-05-16 07:52:29.766298

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    Date: 2022-05-18 13:56:27.643353

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OLA Harassment and Invasion of Privacy

Requested from SEC by D. Ymasa at 08:50 AM on May 13, 2022.
Purpose: Investigate OLA, stop threatening and invading privacy
Date of Coverage: 04/01/2022 - 05/13/2022
Tracking no: #SEC-283381417120

Ymasa 08:50 AM, May 13, 2022

I would like to request to further investigate these loan apps: Wellcash, Cash Go, Binhi, Wow Pera, and Madaloan. They threatened me, saying they would kill me or any of my family members. They even invaded my privacy by texting different people on my contact list and using harsh words and defamation. I'm sure I'm not the only one who gets threats like this. Many of us have filed a request with your good office, and we are hoping that you will act as soon as possible so that they will not be able to do the same to other borrowers. Thank you.

Gonzales 07:52 AM, May 16, 2022

May 16, 2022

Dear Danica,

Thank you for your request dated May 13, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for OLA Harassment and Invasion of Privacy.

We received your request on May 13, 2022 and will respond on or before Jun 03, 2022 08:50:43 AM, in accordance with the Executive Order's implementing rules and regulations.

Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://foi.gov.ph/requests/aglzfmVmb2ktcGhyHQsSB0NvbnRlbnQiEFNFQy0yODMzODE0MTcxMjAM, for request with ticket number #SEC-283381417120.

Thank you.

Respectfully,

Isma Gonzales
FOI Officer

Ymasa 01:30 PM, May 17, 2022

Good day! I would like to request to further investigate these loan apps: Wellcash, Cash Go, Binhi, Wow Pera, and Madaloan. They threatened me, saying they would kill me or any of my family members. They even invaded my privacy by texting different people on my contact list and using harsh words and defamation. I'm sure I'm not the only one who gets threats like this. Many of us have filed a request with your good office, and we are hoping that you will act as soon as possible so that they will not be able to do the same to other borrowers. Thank you.

#SEC-283381417120.

Gumtang- Remalante 01:56 PM, May 18, 2022

May 18, 2022

Dear Danica Ymasa,

Greetings!

Thank you for your request dated May 13, 2022 08:50:43 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You asked for OLA Harassment and Invasion of Privacy.

Response to Request

Please take note that the Commission is already taking the necessary actions against complaints filed against companies that is under its regulatory supervision. In order to know more about the specifics of your complaint, you may file a formal complaint with us by following the instructions below:
 
1. To File a Formal Complaint Against a Lending or Financing Company
Download and fill out the Complaint Form completely and accurately: https://www.sec.gov.ph/wp-content/uploads/2021/04/2021FORM_Updated-Complaint-Form.docx

2. Provide the necessary attachments, namely:
a. relevant documents and evidence that will support your claim/s or allegation/s ( e.g. screenshots of text messages and conversations with the financing/lending company);
b. loan agreement (if any);
c. valid government-issued ID; and
d. evidence/proof that you have exhausted all remedies against the company concerned before filing your complaint with the SEC, if any.

3. Indicate the following personal information of the complainant in the complaint form:
a. personal e-mail address;
b. personal contact number/s; and
c. address (in the Philippines) where you may be furnished a copy of letter/s and order from the Commission.

4. Use the below format in the subject head of e-mail in sending the complaint form to cgfd_md@sec.gov.ph:
COMPLETE  NAME_RESPONDENT COMPANY _SUBJECT OF COMPLAINT
(ex: JUAN DELA CRUZ_ABC LENDING_DISCLOSURE STATEMENT VIOLATION)
 
5. Submit one complaint form per respondent company.
 
For more information, refer to this link: http://www.sec.gov.ph/lending-companies-and-financing-companies/complaints/
 
Your right to request a review
 
If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to Commission Secretary at comsec@sec.gov.ph. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.
 
If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).
 
Thank you.

Respectfully,

Atty. Rachel Esther Gumtang- Remalante
FOI Receiving Officer

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