Philippine authorities arrested approximately 100 people on Friday in a raid targeting a suspected online scam operation in Manila. The syndicate is accused of extorting victims through fraudulent lending schemes, according to officials.
The operation took place in Makati’s financial district as part of an intensified crackdown on cybercrime networks that often disguise themselves as gaming or lending firms. Armed agents from the Presidential Anti-Organized Crime Commission (PAOCC) and the National Bureau of Investigation (NBI) stormed two offices linked to the alleged scam. Inside, they found suspects working at computers, many of whom were young Filipinos.
According to PAOCC Director Gilberto Cruz, the suspects used TikTok and other social media platforms to lure victims into applying for collateral-free loans of up to 25,000 pesos ($428). Borrowers were charged exorbitant weekly interest rates of 35%, and those who struggled to repay faced severe harassment and threats.
“Some of those they harassed developed mental problems, others fell into depression, and there have even been some suicide incidents that occurred because of the harassment perpetrated by these people,” Cruz revealed during a press briefing.
The arrested individuals could face charges under the country’s cybercrime laws, including fraud and online extortion.
Exploiting Victims Through Fear
The raided company, Wewill Tech Corp., reportedly demanded personal information and family photographs from loan applicants. These details were later used to blackmail and intimidate victims. Some individuals who failed to pay their loans even received funeral wreaths and coffins at their homes, a sinister tactic designed to instill fear, Cruz said.
Authorities are still investigating the nationality of the company’s owners, though Cruz noted that similar scams in the past have been linked to Chinese nationals. He suspects that the arrested group could be remnants of online gaming operators that were shut down under President Ferdinand Marcos Jr.’s 2023 directive to eliminate illegal gambling networks.
“What is frightening here is that Filipinos are harassing and defrauding their fellow Filipinos,” Cruz lamented.
Southeast Asia’s Cybercrime Hotspot
The United Nations Office on Drugs and Crime (UNODC) has identified Southeast Asia as a major hub for global scamming syndicates, many of which are linked to Chinese-origin crime organizations. These groups operate across the region, using technology to defraud victims worldwide.
Authorities are now working to trace the masterminds behind the operation and identify potential foreign connections. Meanwhile, law enforcement agencies remain on high alert for similar scams exploiting vulnerable individuals in the country.
