At least 100 people were arrested in a raid on a suspected online scam farm that has extorted money from dozens of victims.

Authorities have also ordered the closure of We will Tech Corp. which allegedly employed the suspected scammers holding office in the Makati financial district.

The raid on Friday (Jan. 31) was jointly conducted by agents of the Presidential Anti-Organized Crime Commission (PAOCC) and the National Bureau of Investigation who were armed with search warrants addressed to two offices of the alleged online scam farm operating as a lending agency

The suspects were mostly young Filipinos whose work allegedly included finding victims through TikTok and other social media. They offer collateral-free loans of up to PHP25,000 to entice would-be victims.

Under the loan scheme borrowers were charged 35 percent weekly interest.

Those who are unable to pay on time are usually subjected to various forms of harassment, humiliation and threats, according to PAOCC Director Gilberto Cruz.

Cruz lamented that some of the victims have developed psychological issues as a result of the the online scam activities. Harassment included the sending of coffins and funeral wreaths to the house of victims.

He said charges of extortion, fraud and violations of the country’s cybercrime laws are being prepared against the suspects