By Nancy Carvajal
A businesswoman who loaned tens of millions of pesos to her business partner is now seeking the National Bureau of Investigation’s (NBI) help after receiving fake ATM cards as collateral for the debt.
The complainant, who asked not to be named, said she had no idea that the ATM cards were counterfeit and made in Recto Avenue, Manila until she tried to withdraw money from them.
“I thought the ATM cards were genuine for more than two years. I only found out that they were made in Recto upon the admission of my partner when the payments started to default,” the complainant said.
The lender said she also tried to call the supposed owners of the ATM cards for verification, only to learn that their cards were still with them.
“Those who answered my calls said their cards are with them or they do not know anything about the fake ATM cards. Companies I reached out to also denied employing the names of persons whose names were on the ATM cards,” the businesswoman said.
Acting on the complaint, the NBI is now pursuing leads regarding the manufacturers of fake ATM cards.
The businesswoman said she sought the NBI’s assistance to prevent other lenders from falling victim to receiving fake ATMs as collateral.
She said an untrained eye could easily be duped into believing that the ATM cards were genuine.
“The fake ATM cards feature details that are on genuine cards. One will only discover that they’re bogus when they’re rejected by ATM machines,” the complainant said.
Several lenders have required borrowers to provide their ATM cards as collateral for loans even though it is prohibited under the law.
The complainant said she provide loans ranging from P20,000 to P50,000. Most of her clients, she added, come from the business process outsourcing industry.
“If the borrower is already in management position, he or she can obtain a larger loan by providing his or her ATM card as collateral,” she said.