NPC Warns Online Lending Operators Against Public Shaming
NPC – The National Privacy Commission (NPC) recently said on Friday that they warned operators of online lending against public shaming.
According to a recent report in ABS-CBN News, the online lending operators who will be found violating data privacy laws via public shaming or “debt-shaming” will receive a fine of up to ₱5 million or 7 years imprisonment, as told by Raymund Liboro, NPC Commissioner
As of the moment, operators of about 3 online lending firms were filed against by the privacy agency and were given 10 days to send an answer to the charges.
Liboro further said that they will collaborate with other agencies or bureaus in order to deal with the rapid increase of complaints regarding debt-shaming issued by operators of lending firms should borrowers fail or miss the loan payments.
In the complaints received by the National Privacy Commission, the debt-shaming includes threats and messages that humiliate the borrowers that were sent to their family members via contact information which is found in their mobile devices.
As per the report, at about 921 complaints were filed against the lenders as of August 31 (Asturday), as shown by the National Privacy Commission.
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