10/06/2023
π’ At SME ICC, we are committed to promoting fair trade practices and protecting both consumers and businesses through responsible lending. πΌβ¨
As recent articles by the DTI have highlighted fraudulent business transactions, especially those involving online sellers, we recognize the importance of maintaining integrity and trust in the marketplace. By upholding responsible lending principles, we contribute to a fair and secure business environment.
At SME ICC, we prioritize transparency, ethical conduct, and consumer protection. Our stringent lending practices ensure that businesses have access to funding while maintaining fair and reasonable loan terms. By providing clear information, fair interest rates, and responsible financial solutions, we aim to empower entrepreneurs and protect consumers' interests.
We firmly believe that fair trade practices are essential for sustainable economic growth. By supporting responsible lending, we actively work towards fostering a marketplace where businesses can flourish and consumers can make confident choices. Together, let's build a business landscape founded on trust, integrity, and fair trade principles.
MAKATI CITYβOn Monday, Department of Trade and Industry (DTI) Secretary Fred Pascual issued a letter addressed to two big e-commerce platforms, ordering them to send an official explanation to the DTI concerning recent cases of deceptive, unfair, fraudulent, and unconscionable online sales practices.
"We received a report regarding scammers and sellers of defective, fake, and pirated products in e-commerce platforms. I have already issued a letter addressed to two big e-commerce platforms for them to remove unregistered and unlicensed online merchants. Following numerous notifications, they were given 72 hours to explain," Secretary Pascual mentioned.
Further, he added that, "The DTI is currently undertaking appropriate measures to intensify our campaign against these fraudulent sales practices. I assure Filipino consumers that we are here to promote and protect their welfare and make sure that these sellers will be made accountable. As we promote the use of e-commerce platforms, we want to make sure that these spaces will be safe for consumers."
The report received by the Department indicated that several consumers lodged complaints against various online sellers of fake, defective, or undelivered parcels, which the DTI is currently acting upon.
In view of the prohibition against deceptive, unfair, and unconscionable online sales and practices under Republic Act Nos. 7394 and 8293, and Joint Administrative Order No. 22-01, Series of 2022, or the Guidelines for Online Business Reiterating the Laws and Regulations Applicable to Online Businesses and Consumers, Secretary Pascual issued the letter on Monday, 5 June 2023. Likewise, he urged these e-commerce platforms to immediately address the concerns of consumers who have fallen victim to deceptive sellers.
Meanwhile, the DTI urges consumers to report violators, retailers, distributors, and manufacturers that sell uncertified items through the Consumer Care Hotline at DTI (1-384) or [email protected].