We have received alarming information that there are certain individuals and/or groups that claim to represent or claims to be affiliated with MULTIPLIES CHANGE FINANCE CORPORATION (MCFC), who have been found to be victimizing the public through a scheme called “fee loan scam”, wherein the victims are asked to pay fees  before the release of an offered loan. However, under this scheme, the loan will not be released upon payment and excuses will be given so that the scammers can ask for more money from the victim in exchange for the release of the amount loaned.

MCFC hereby informs the general public that the said individuals and/or groups are NOT affiliated with MCFC. The public is advised to be more vigilant in dealing with people offering such scheme or any transaction that involves the exchange of money.

It is noteworthy that registered and legitimate financing companies, like MCFC, would not require the payment of any fees, for whatever reason, as a pre-condition for the release of the loan.

MCFC has likewise learned that these individuals and/or groups are showing fake and falsified public documents of MCFC like BIR and DTI Certificates of Registration, SEC Certificate of Incorporation, and LGU Business Permits,  among others. The public is advised not to believe these scammers as MCFC will not divulge these corporate documents to clients in this manner.

Persons who encounter this type of scam should not engage with them and not make any payment. They are also advised to immediately report the incident to the Philippine National Police (PNP) and National Bureau of Investigation (NBI).