The Securities and Exchange Commission (SEC) has warned the public against an unauthorized website and a Facebook page that allegedly misused the identities of two licensed financing companies to appear legitimate, according to BusinessWorld.
In separate advisories issued on July 14, the SEC flagged the website pipofinancing.com for allegedly using the corporate identity of PIPO Financing (PH), Inc. The regulator also identified a Facebook page that purported to represent another licensed financing company. The SEC urged the public to verify the legitimacy of financing firms through its official channels before transacting.
The agency reminded consumers not to engage with unregistered entities and to report suspicious online activities to its Enforcement and Investor Protection Department. The SEC regularly issues advisories against fraudulent schemes that exploit the names of legitimate financial institutions.