Manila, Oct. 27 -- The Securities and Exchange Commission in Butuan City (SEC-Butuan) is warning residents in the Caraga Region against using unauthorized Online Lending Platforms (OLPs), applications (apps), and websites.

In a statement on Monday, the information office of SEC-Butuan said the office is closely monitoring the operations of these platforms.

The commission is working with concerned agencies on information drives to raise public awareness, it added.

SEC-Butuan made it clear that these online platforms have no authorization and are not allowed to offer, process, or engage in lending, based on SEC Memorandum Circular No. 10, Series of 2021.

The unauthorized OLPs and apps, which are being monitored in the region, include:...