The Securities and Exchange Commission (SEC) and the Philippine National Police Anti-Cybercrime Group have arrested eight employees and officers of online lending operator Realm Shifters BPO Services/FESL BPO Services in Pasig City for engaging in unauthorized lending activities.
In a joint operation on May 16, the combined forces of the SEC Enforcement and Investor Protection Department (EIPD) and PNP implemented a warrant to search, seize and examine computer data and other relevant information in the office of Realm Shifters/FEL in Pasig City.
The search warrant, issued by the Pasig City Regional Trial Court Branch 159, targeted Salvador Jennifer Mangubat, the registered owner of Realm Shifters/FESL, as well as other managers, supervisors, team leaders, operators, and occupants of the office.
The warrant was issued due to the alleged misuse of devices, a violation penalized under Section 4(a)(5)(i)(ii) of the Cybercrime Prevention Act of 2012.
In a stern warning, the SEC emphasized that those involved in abusive debt collection practices would face criminal prosecution for violating Section 8(d) of the Financial Products and Services Consumer Protection Act.