By Joann Villanueva
MANILA – The Securities and Exchange Commission (SEC) on Friday warned the public to take “the highest degree of caution” against persons and groups offering assistance for scam victims through various online platforms.
In a statement, the SEC said the offers for help are made through “Facebook pages, online groups, and other social media platforms”, and are “in fact, designed to defraud them a second time.”
The offers came in a form of “recovery of funds previously lost to scams or fraudulent schemes in exchange for advance fees or personal information; misrepresenting affiliation with government agencies or law enforcement authorities despite the absence of any lawful basis; fabricating testimonials, documents, or credentials to create a false appearance of legitimacy; and employing high-pressure tactics to induce victims into making immediate payments or disclosing sensitive personal or financial information.”
“These online accounts or entities are not authorized by the Commission and have no legal authority to provide recovery services. On the contrary, they are being utilized as instruments to exploit already vulnerable victims,” the statement said.
“The Commission warns the public not to transact with, remit any sum to, or disclose personal information to such individuals or groups. Victims of scams are strongly urged to lodge their complaints directly with the proper authorities for appropriate action,” it warned.
SEC urges the public to send any request for assistance or inquiries to the Commission’s Enforcement and Investor Protection Department (EIPD) at epd@sec.gov.ph. (With a report from Joann Villanueva/PNA)
