SEC warns public vs job offer scams
The Securities and Exchange Commission (SEC) has warned the public about the proliferation of scammers who are exploiting messaging platforms to lure job seekers into schemes where they end up losing instead of earning money.
In a recent advisory, the SEC Enforcement and Investor Protection Department (EIPD) reported an “alarming” number of job offer scams perpetrated through messaging platforms such as Viber, Messenger and Telegram.
In the aftermath of the mandatory SIM card registration in the country, many scammers have shifted from SMS or text-based messaging to various messaging platforms in hunting for victims.
“The EIPD urges the public not to engage in job offer scams and be vigilant when receiving job offers involving these scams and to immediately file reports or lodge their complaints,” the SEC said in a July 21 statement.
The SEC described the latest modus as “tasking and recharging scheme.” Scammers contact their victims through messaging platforms and offer trivial tasks like ordering or purchasing items, sorting orders and clicking tasks, among others, for a supposed e-commerce platform.
However, the victims are required to deposit minimal amounts to access a dubious e-commerce platform that assigns paid tasks.
Subsequently, the victims are enticed to deposit more money in escalating amounts to get higher-paying tasks.
Small deposits are initially paid the promised returns to dupe or fool the public to believe in the legitimacy, and encourage them to pour in more money into the platform.
For example, an individual will be asked to deposit P500 for paid tasks worth P1,000, as part of the initial offer.
After completing the job and receiving payment, the promoter will offer the victim higher-paying tasks amounting to P10,000, but he or she must deposit P5,000 to access the new workload.
The cycle continues until the deposited amount balloons. Amounts differ depending on the mechanics of the scam.
Once the investors are hooked and have deposited big amounts, the platforms and their operators would require victims to deposit more money in order to withdraw their supposed earnings for various reasons and eventually disappear.
The SEC urges the public to report suspected scammers to the EIPD via email epd@sec.gov.ph.
