Don’t Be A Victim of Investment Scams

Have you encountered certain group of people who do sweet-talking and offer you a very lucrative deal to invest money in a networking company or any business for that matter? Do they promise that the money that you invest will profit or even triple in just a matter of months? Seems too good to be true, right? Beware, for it might be an investment scam.

Since Overseas Filipino Workers (OFWs) are one of the most common victims of scams, the Philippine Overseas Employment Administration (POEA) warned all OFWs to be aware and wiser in accepting business deals.

The Modus

A member of this certain group will try to convince you to join and invest on their business like networking, product selling, business franchise, etc.  He/she will show you some sample products and testimonies from their “clients/investors” to prove that the product/business is real. That person will also assure you that the money that you invested will double or triple in just a matter of months since the “business” is said to be effective and legal.

Once they earned your trust, they will ask you to deposit money in their bank account. The transaction will be smooth sailing at first, but in the long run, you will notice that you are losing money instead of receiving the amount that they previously promised you. And worst, those person will disappear in an instant carrying all your hard-earned money.

How To Avoid Investment Scam

• Check the authenticity of the company or the recruiter- You can check the business permit and its transactions in Securities and Exchange Commission (SEC). If the company or the group cannot present authentication from SEC or the Bureau of Internal Revenues (BIR), they are most likely illegal.

• Check the product and the services- You may also check if the operation of the company is legal through SEC as well. The product and services of a company is legalized and authenticated by the Department of Trade and Industry (DTI), Bureau of Food and Drugs (BFAD) and SEC. You can also try the product for yourself if it is real or fake.

• Do not give your trust easily- Do not give your trust easily and make your own research before you give money. Also, to make sure that it is not a scam, inquire if you can visit the company and try their products to ensure their authenticity. Remember that money doesn’t grow on trees. You work hard to earn it.

• Observe- Observe the way they talk and their business proposals. The way they converse and their body contact can give you a hint if a person is sincere or just letting you bite their offer.

• Don’t believe in e-mail and text alerts- Oftentimes, you receive spam alert through your email that asks you to join a group. You can also receive text messages saying that you won in a certain contest or if you can join them in their lucrative business offer.

Scam victims may visit POEA Information and Action Center (PIAC) at the

POEA Main Office in Ortigas, Mandaluyong City or call 722-11-44/55. Victims may also seek assistance with the National Bureau of Investigation (NBI) located at Ermita, Manila or call 523-8231 to 38