Picture for illustrative purposes only. ARCHIVE

A Filipina expatriate in Dubai has shared her experience after losing ₱24,100 (Dh1,475) in an alleged loan scam, prompting warnings from other netizens and renewed attention on fraudulent lending schemes. The woman, identified as KJB (full name withheld), said she sent the money to a recipient in the Philippines through a money exchange service on Tuesday (March 25), believing it was part of a loan application process. Her ordeal drew responses from netizens who said they had encountered similar schemes on social media. One netizen shared: “The same thing happened to me with a lending app. Because I wanted to send money home to my family, they got ₱58,000 from me.” Another user warned against offers that require upfront payments. “Do not easily believe lending apps that approve loans in one day without appearance. If they ask for a deposit, that is already a red flag. Be careful, especially when money is involved,” the user said. Others pointed to messaging platforms commonly used in such scams. “Those so-called loan offers using Telegram — many Filipinos have already been scammed. It has been said many times that if Telegram is used, it is a scam,” another netizen wrote.

Similar scam reported

In an Expat Media exclusive interview, another Filipino resident in the UAE recounted falling victim to a similar online lending scheme that promised “P150,000 to P10 million easy loan for OFWs,” with claims of “fast approvals” and “instant cash.” According to the victim’s counsel, a formal complaint has already been filed with the cybercrime division of the Philippines' National Bureau of Investigation in an effort to recover the lost funds. The victim said he came across a sponsored post on Facebook offering loans at a 0.3 interest rate payable for up to seven years. He was then connected to an agent via Telegram and was shown what appeared to be a Securities and Exchange Commission (SEC) registration certificate to convince him that the company was legitimate. “He was included in a Telegram group chat where fake OFWs showed successful loan transactions. He was then asked to register via the app to claim his loan. He was told that he could make a loan in the millions but that he needed to pay the insurance amount in order to secure the loan,” the counsel told Expat Media. “After he paid the so-called insurance amount, they later claimed there was a mistake in his app that locked the disbursed loan amount. They then told him he needed to make a deposit to unlock the money. After he deposited the money and still didn’t get the loan amount, that’s when he confirmed that he was scammed,” the counsel added. The counsel also urged Filipinos to be cautious when dealing with online loan offers. “My advice to OFWs and Filipinos is to be very careful about offers that are too good to be true. Do not decide right away. Consult friends to help you make an informed analysis. Also, read the news because if there is a syndicated scam, there will be news reports about it,” the counsel said.

SEC warns against fake lending pages

The SEC has repeatedly warned against unauthorized online lending platforms targeting Filipino borrowers. According to the SEC, fraudsters often engage in high-interest, predatory lending practices and harassment. The agency advised the public to transact only with registered companies. As of March 2026, the SEC said only 119 companies and 180 online lending platforms are registered with the commission. View the list here In an advisory last year, the SEC flagged at least 28 Facebook pages posing as legitimate lending companies and warned that they were involved in advance-fee loan scams. In many cases, victims are told that the payment will be included in the loan proceeds. However, the loan is never issued. Some scammers also claim the funds were sent to the wrong account and demand additional “penalty” payments. To appear legitimate, the operators present falsified documents claiming registration with agencies such as the Bangko Sentral ng Pilipinas and other government offices. “The public is reminded to avoid transacting with the companies or individuals behind these Facebook pages as they are not authorised or licensed to offer, process or grant loans through any platform,” the commission said. The SEC also noted that scammers often transfer conversations to messaging platforms such as Telegram or Facebook Messenger and may include fake participants in group chats to simulate legitimate transactions. The SEC urged the public to verify the legitimacy of lending companies through its official online database before entering into any agreement. Authorities continue to monitor online platforms for fraudulent financial activities and advise users to exercise caution when dealing with unsolicited loan offers. ICA/PIA/Expat Media
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