The Securities and Exchange Commission (SEC) on Monday warned against dealing with a Facebook (FB) group operating under the name Tekcash Online Loan Victims.
The SEC said the group is using the corporate name of Tekwang Lending Corp. without any authorization, permission or affiliation.
‘Unknown individuals associated with the said unauthorized Facebook group are also circulating and using the fake email address tekcashloanmanagement@gmail.com,’ the SEC said.
It said the email address is being presented in testimonials within the group as allegedly having assisted victims or borrowers.
Such representations are false and create the misleading impression that the email address and the group are connected to or endorsed by Tekwang Lending Corp., the SEC said.
‘Any claim that the said group or email address is assisting borrowers on behalf of, or in coordination with, Tekwang Lending Corp. is false and may constitute an attempt to deceive the public that could lead to scam activities,’ the commission said in its advisory.
It advised that any person who may have been contacted by, solicited by, or transacted with the said Facebook group, associated account, or fake email address is encouraged to immediately report the matter to the SEC and other appropriate authorities and to preserve all available evidence, including screenshots, receipts, transaction records and communications.