The Department of Migrant Workers (DMW) has issued a strong warning to Overseas Filipino Workers (OFWs) about fraudulent lending schemes being promoted through Facebook pages.
In its advisory, the agency identified several accounts offering suspicious online loans, including Tiwala Lending Prime, Pautang OFW sa Norway, PinoyPay Prime, and CredXpress Lending. Authorities cautioned that such platforms may be used to exploit vulnerable workers seeking financial assistance.
The DMW reminded the public that legitimate lending companies must be duly registered with the Securities and Exchange Commission (SEC) and authorized by the Bangko Sentral ng Pilipinas (BSP) before they can operate. It emphasized the need for OFWs and their families to verify a company’s status before engaging in any financial transaction.
To help borrowers check the legitimacy of lenders, the agency urged the use of the SEC Check App, a tool that provides an updated list of accredited and licensed lending companies.
This advisory forms part of the DMW’s broader Anti-Illegal Recruitment and Trafficking in Persons Program, which also covers safeguarding OFWs from financial scams that could lead to deeper exploitation. The program focuses on prevention, protection, and prosecution, ensuring migrant workers are not victimized by illegal schemes while seeking better opportunities abroad.
