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| Exposing borrowers in public in this manner is also illegal |
The Philippine Consulate General has issued an advisory against online lending companies using blackmail to force people to pay their loans, likely at usurious interest rates.
In a statement issued Monday, the PCG said the illegal
money lenders threaten the borrowers with exposing their personal details,
identity documents, videos and photos of even their employers unless they paid
up.
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| TAWAG NA! |
“These acts by online money lending companies are
punishable under the various criminal and privacy laws of Hong Kong with a
penalty of up to five (5) years’ imprisonment and fine of up to HK$1milion,”
said the advisory.
“The Consulate also reminds the public not to provide information to online money lending companies such as social media profiles and family, photos of the employer’s house, and other sensitive personal information not related to their loan transaction.”
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| First page of the Consulate's advisory |
In a footnote to the advisory, the PCG mentioned that among the items that foreign domestic workers appear to been obliged to share with the illegal money lenders were the employers’ personal details, as well as their address, car plate number, photo, picture of the flat’s bedroom and living room, apart from their own video acknowledging the loan they got off the money lending company.
Victims are advised to take a screenshot of their transactions with the illegal money lenders and report them to the nearest police station – or seek advice and assistance from the Consulate or the Migrant Workers’ Office.
“Always exercise caution and vigilance in making
financial transactions and in giving personal information to other people,”
said the Consulate.
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| Take screenshots of your loan transactions, says the PCG |
Those who wish to check if the company they are transacting with is a registered money lender in Hong Kong may visit this website: https://www.cr.gov.hk/en/services/money-lenders/search/licensee-search.htm
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