Philippine SEC warns lending apps Cashai, Cashay Plus, Cash-X and Cash A are unauthorised
BusinessMirror reported on 23 October 2026 that the Philippine Securities and Exchange Commission (SEC) warned the public against four online lending platforms operating without the necessary authority: Cashai, Cashay…
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Source: businessmirror.com.ph · published
What happened
BusinessMirror reported on 23 October 2026 that the Philippine Securities and Exchange Commission (SEC) warned the public against four online lending platforms operating without the necessary authority: Cashai, Cashay Plus: Fast Cash Loan (Early Access), Cash-X: Easy Online Loan App, and Cash A: Easy Online Loan App. The platforms claim affiliation with or use the corporate identity of G. A. Orobia Lending Corp., a registered company which, according to the SEC, does not own, operate or authorise any online lending platform or app. The SEC advised the public to avoid transactions with the platforms, warned that unauthorised lending apps often engage in unfair debt collection, unlawful contact access and data privacy violations, and urged people to check its official list of lending platforms.
How the scam works
Unauthorised lending apps typically promise fast cash loans with little paperwork, and sometimes claim the backing of a registered lending company to look legitimate. The SEC says displaying a corporation's name, SEC registration number, Certificate of Authority, address or logo does not by itself show that the company owns, operates or authorises an online lending platform. During installation, such apps often ask for access to contacts, photos and messages. Borrowers may receive less than promised after hidden fees are taken off, face very short repayment periods, and then be harassed with threats or messages sent to their contacts.
The SEC says unauthorised lending apps frequently engage in unfair debt collection, unlawful contact access and data privacy violations. G. A. Orobia Lending Corp. is a registered company but, according to documents it submitted to the SEC, it does not run or authorise any lending app, so it is the impersonated party and is not involved.
Source
BusinessMirror, "SEC warns public against online lending platforms" (published 23 October 2026).
Red flags
- A lending app that names a registered company but isn't on the SEC's official list of lending platforms.
- Promises of instant approval with very few checks.
- Requests for access to your contacts, photos or messages.
- Fees deducted upfront or very short repayment periods.
- Threats or messages to your contacts when you are late paying.
If you were targeted
- 1Don't download or borrow through Cashai, Cashay Plus, Cash-X or Cash A.
- 2Check the SEC's official list of lending platforms before using any loan app.
- 3Don't give loan apps access to your contacts or photos.
- 4If you're being harassed, keep screenshots and report it to the SEC and the National Privacy Commission.
- 5Uninstall the app and revoke its permissions if you've already installed it.