Stepping up its crackdown against illegal lending, the Securities and Exchange Commission (SEC) has moved to padlock seven illegal online lending operators that have also been called out for "onerous" terms and "abusive" collective practices.

In an order dated Feb. 8, the SEC en banc directed PesoBee, Peso T-Safe Online Cash, RushLoan, SkyMart, SpendCash, Tapa, and WithU, to immediately cease and desist from operating, engaging in, carrying out, abetting, and/or promoting lending/financing businesses and related activities — until they have incorporated and secured from the SEC authorization to pursue such activities.

The SEC issued the order after finding that none of the groups have been registered as a corporation. Accordingly, they also lack the certificate of authority to operate as a lending/financing company.

According to the SEC, these firms were "illegally offering and providing loans to the public, charging high interest rates, and subjecting its debtors to unfair treatment through abusive and even libelous language in collecting the loaned amount."