The government is seeking to prevent and penalise abusive debt collection practices, misrepresentations, and unreasonable terms and conditions.
April 5, 2022New rules effective from 1 March impose stricter requirements on beneficial owner identification and verification, including for non-bank financial firms.
January 27, 2022A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.
September 18, 2019The move is part of a broader crackdown on irregular practices and risks in the P2P sector, and will provide greater protection to investors in online lending platforms.
September 6, 2019The pledge comes after 48 online lenders were cited for using customers’ personal data to publicly shame people who did not settle their debts on time.
June 8, 2019