An Overseas Filipino Worker (OFW) based in the UAE became a victim of an online lending scam in the Philippines, losing almost P50,000. The scam was brought to light by a concerned citizen who reached out to The Global Filipino Magazine anonymously, aiming to raise awareness among fellow OFWs about this fraudulent scheme.
According to the source, the victim applied for a loan through an online platform without realizing it was a scam. “At first, it was too good to be true since they didn’t ask for collateral. However, they asked for a downpayment of 7,777 PHP, which they claimed would be refunded along with the requested loan amount. So, my friend deposited the amount,” the source shared.
The situation escalated as the lending company requested additional payments under various pretexts, including a 12,000 PHP charge for bank account confirmation and a 25,000 PHP tax settlement fee, due to the victim residing in the UAE. Each request was accompanied by promises of access to the loan and the return of the deposited amounts.
Despite providing all requested payments, the victim encountered continuous errors when attempting to withdraw the funds. The scam culminated with a demand for an additional 28,000 PHP to unlock the account, which the victim did not fulfill.
The lending company had presented legitimate-looking documents, including SEC, BIR, and DTI certificates, alongside employee IDs, adding a layer of perceived credibility to their operation.
While the money was not returned, the source emphasized the importance of vigilance, stating, “So, to everyone, just be vigilant and stay safe.”