Declared amounts in the complaints received in 2021 alone add up to about 540 million pesos; from 2019 to 2021, the cumulative total amounted to two billion pesos. A majority of these cases have been deemed closed. But the process was long and arduous. And for many complaints the resolutions were unfavorable to the consumer.
Over the same period, fellow regulator, the Insurance Commission, received and processed 2,992 complaints against insurance and pre-need companies and HMOs. The Securities and Exchange Commission also received hundreds of investment scam complaints within 2019 and 2020. These cases could be resolved quickly once the FCP Act is in place.