BIZ BUZZ: BDO, SEC scam watch
There’s always something enticing about the promise of making thousands of pesos by just sitting at home and shelling out just a fraction of your perceived earnings.
Now, there may be this nagging feeling that it’s too good to be true. The bad news is: It probably is, and you’ve been scammed.
If the Securities and Exchange Commission’s (SEC) issuances and advisories are to be believed, hundreds have already fallen victim to these empty promises.
The corporate watchdog recently partnered with BDO Foundation to produce educational investor protection videos titled “Check with SEC” and “Legit Investments? It’s a Date.”
These videos—one a music video and another a storytelling video—warns potential investors about the red flags of scams. (Hint: They’re probably strange and typically too good to be true.)
Some include promising to double investments, requiring personal information and recruiting other “investors.”
“This shares project not only helps prevent Filipinos from falling victim to investment scams but also builds and restores confidence in legitimate investment opportunities,” BDO Foundation president Mario Deriquito says in a statement.
Keep a close eye on your social media accounts and believe only those that are credible!
