Published by Anti-Money Laundering Council(AMLCS) on April 25, 2023.
Requested from AMLC by M. Caymo at 02:19 PM on
April 25, 2023.
Purpose: I want to return the money they sent to may account
Date of Coverage: 04/25/2023 - 04/25/2023
Tracking no: #AMLCS-626531448605
M.CAYMO
April 25, 2023, 2:19 p.m.
Hi good day! I would like to ask for help regarding online lending app specifically "Peso Cow" . We are on the process of filling up and suddenly it automatically approved without our consent. I hope you can help us to solve this problem . I want to return the money they sent, because it has high interest.
F.OFFICER
May 15, 2023, 11:26 a.m.
May 15, 2023
Dear Ms. Caymo,
Thank you for your request dated Apr 25, 2023 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Reporting Peso Cow Online Lending App.
We received your request on Apr 25, 2023 and will respond on or before May 16, 2023 02:19:44 PM, in accordance with the Executive Order's implementing rules and regulations.
Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://foipmo09232019155230-dot-efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHwsSB0NvbnRlbnQiEkFNTENTLTYyNjUzMTQ0ODYwNQw, for request with ticket number #AMLCS-626531448605.
Thank you.
Respectfully,
FOI Receiving Officer
A.DECISION MAKER
May 15, 2023, 11:28 a.m.
May 15, 2023
Dear Ms. Caymo,
Greetings!
Thank you for your request dated Apr 25, 2023 02:19:44 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
The information you provided pertains to the online lending application Cash Cow, which is operated by Fast Coin Lending Corp. (Fast Coin).
In a Press Release dated 25 January 2023, the Securities and Exchange Commission (SEC) revoked Fast Coin’s Certificate of Authority for violations of SEC Memorandum Circular No. 19 and Republic Act No. 9474, or the Lending Company Regulation Act of 2007 (LCRA).
The AMLC, as the central anti-money laundering/counter-terrorism financing (AML/CTF) authority of the Philippines, primarily functions as a financial intelligence unit, money laundering/terrorism financing investigator and prosecutor, as well as an AML/CTF supervisor, in accordance with Republic Act No. 9160, otherwise known as the Anti-Money Laundering Act of 2001, as amended, and its 2018 Implementing Rules and Regulations. It has no mandate to investigate the commission of crimes (e.g., violations of the LCRA) in general.
In this regard, we suggest that you report your concern to the Securities and Exchange Commission (SEC), Philippine National Police (PNP), or National Bureau of Investigation (NBI), which could best act on your complaint and investigate on the said offense.
Please be guided accordingly.
May we request you to fill-out our feedback form to enable the us to continuously improve their services: https://forms.office.com/pages/responsepage.aspx?id=b5DZDHVFMEWm-8r6KIAvF_bmwAET7W9KpjGjBkMmOf5UMFRaQzFFNlFOQlY1RVhOQVRFWjlCTktFRi4u
Respectfully,
FOI Decision Maker
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