Copperstone and MocaMoca Support Stronger Consumer Protection Measures
Manila, Philippines — The Securities and Exchange Commission (SEC) has released a new advisory identifying a list of unrecorded online lending platforms (OLPs) that are not authorized to offer, process, or operate lending services in the Philippines. The announcement reinforces the government’s ongoing crackdown on illegal digital lending operators and highlights the importance of consumer protection in the rapidly growing fintech and online lending sector.
Industry stakeholders, including Copperstone Lending Inc. and its digital lending application MocaMoca, expressed support for the regulatory action, emphasizing the need for transparency, compliance, and responsible lending practices to protect Filipino borrowers.
SEC Advisory Strengthens Oversight of Online Lending Platforms
The SEC advisory reminds the public that certain mobile applications, websites, and lending platforms remain unauthorized to operate under SEC Memorandum Circular No. 10, Series of 2021, which imposed a moratorium on new online lending platforms starting November 2, 2021.
According to the SEC, the following platforms have been identified as unrecorded or unauthorized to provide lending services:
Google Play Store Platforms
• ZRT Cash: Fast Cash Loan
• Temple Cash Secure Loans
• Peso Money – Easy Online Loan
• Yaman Now – Online Peso Loan
• PeraMada
• Fast Pera PH Safe & Fast Loan
• USCREDIT
• VIP Finance – Easy Funding
• Kapit Cash
Apple App Store Platforms
• TalaCredit – Loan App Quickly
• Credipillar – Smart Credit
• Kuhacash – Loan App Philippines
• Pesoking – Mabilis Cash Loan App
• Dolo Loan
• Atome Peso – Mabilis Cash Loan
• Fund Circle – Quick Peso Loan
• Instant Loan – Mabilis Cash Loan
• Pera Cash – Quick Peso Loan App
• Peso Now – Loan App Philippines
• Lucky Loan – Happy Cash Loan App
• Bilis Peso – Mabilis Cash Loan
• IPC Loan – Mabilis Cash & Loan App
• YiuconCredit – Loan App & Peso Loan
Websites
• MII Cash
• Bilis Cash
• Fusecash
• Flexible Cash Loan
The SEC warned consumers to remain vigilant when dealing with digital lending providers and urged borrowers to verify the legitimacy of platforms through the Commission’s official registry of authorized lending companies.
Consumers may also report illegal lending activities through the SEC hotline (14732), the SEC iMessage Portal, or the Commission’s official website.
Copperstone and MocaMoca Laud SEC Consumer Protection Efforts
Following the advisory, Copperstone Lending Inc. (SEC Registration No. 2021050012959-04) and its online lending application MocaMoca welcomed the SEC’s move, highlighting how strong regulatory enforcement helps protect borrowers while promoting trust in legitimate fintech providers.
Copperstone stated that regulatory transparency helps create a safer environment for consumers seeking financial assistance, especially as digital lending continues to expand in the Philippines.
“We fully support the SEC’s initiative to protect Filipino borrowers from unregistered and potentially abusive lending platforms,” a Copperstone representative said. “Responsible lending must be anchored on regulatory compliance, data privacy protection, and ethical customer engagement.”
The company emphasized that MocaMoca operates with compliance and regulatory accountability as core business principles, aligning with Philippine lending regulations and consumer protection standards.
Importance of Choosing SEC-Compliant Lending Providers
The growth of mobile lending apps has made credit more accessible to Filipinos, especially in underserved sectors. However, financial experts warn that unregistered lenders often pose serious risks, including excessive interest rates, hidden charges, aggressive collection practices, and data privacy violations.
The SEC continues to remind borrowers to verify lending companies through the Commission’s official list of recorded online lending platforms before applying for loans.
Industry observers note that regulatory compliance provides several key benefits for consumers:
• Transparent loan terms and interest disclosures
• Protection against abusive collection practices
• Compliance with Philippine data privacy laws
• Regulatory oversight ensuring ethical lending operations
• Safer digital financial transactions
Copperstone reiterated that strengthening public awareness about authorized lending platforms remains crucial in helping borrowers make informed financial decisions.
Building Trust in the Philippine Digital Lending Industry
As financial technology continues to reshape access to credit, regulatory agencies and compliant lenders are working together to promote responsible digital finance. Copperstone shared that initiatives supporting consumer education, regulatory alignment, and ethical lending practices are essential to strengthening public confidence in online loan services.
“MocaMoca was designed to provide Filipinos with accessible, responsible, and transparent digital lending solutions,” the company added. “We believe compliance is not just a requirement—it is a commitment to our customers.”
SEC Encourages Public Participation in Reporting Illegal Lenders
The SEC encourages the public to remain proactive in reporting suspected illegal online lending activities. Borrowers who encounter unauthorized lending platforms may file complaints or inquiries through:
• SEC Hotline: 14732
• SEC iMessage Portal: https://imessage.sec.gov.ph
• SEC Official Website: https://www.sec.gov.ph
Consumers are also advised to consult the SEC’s official list of recorded online lending platforms before engaging with digital loan providers.
Strengthening Consumer Awareness Moving Forward
The SEC advisory underscores the Philippine government’s ongoing efforts to regulate online lending and protect borrowers from predatory financial practices. As fintech adoption increases, compliance-driven lenders and regulators alike continue to play vital roles in ensuring safe, transparent, and fair access to credit.
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VIA MONEY NEWS PH
