Where to report scammers in the Philippines
Don't be duped by scammers who reside or operate in the Philippines! Report them to the authorities and send them to jail!
The Philippine Securities and Exchange Commission (SEC) has repeatedly warned the public against falling for "get-rich-quick" scams. In its site (www.sec.gov.ph), the SEC reported that more and more boiler-room operations have recently emerged, targeting potential investors who want to earn high return on their money.
According to the SEC, if any person or persons approached or contacted you via email, phone, or any other means and offered you a ridiculously high return on your "investment" after a short period of time, protect yourself by asking for the following information first.
- Name of the person and the company making the offer;
- Address of the person and the company;
- Landline numbers of the person and the company (mobile phone numbers are difficult to trace); and
- SEC registration of the company stating they are eligible to take investments
If the person refused to give those information, better not to continue dealing with them. There's a high chance the company and the investment program are a fraud.
Some additional things to remember:
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- Investment houses and financing companies with quasi-banking (QB) license and with SEC registered securities are the only ones allowed to offer investment instruments to more than 19 investors;
- Only SEC registered persons (brokers/dealers/salesmen) may offer or sell registered securities to the public;
- SEC company registration in itself DOES NOT automatically grant authority to sell investment instruments such as securities, bonds, commercial papers, etc. Here is a list of companies authorized by the SEC to accept investments from the public;
- Don't fall for people who give you promissory notes or post-dated checks as proof of your interest earnings. Those might be fake or contain insufficient funds. Scammers use this trick to show that they are supposedly genuine and paying.
If you encountered these people, report them to the:
SEC - Compliance Monitoring and Enforcement Department (SEC-CED) at Phone No. (632)724-7650 or (632)727-2267 or the National Bureau of Investigation or the local police
The image below summarizes what the SEC wants you to do if you are faced in such a situation.
Don't let scammers scam you. Protect yourself and know what to do.
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March 18th, 2008 at 4:06 pm
Hi. I’d like to know if it is illegal to withdraw from the bank account of a dead person - even if the one who withdrew the amount is the widow (through Special Power of Attorney). The bank account was the pension the man received from SSS when he was still alive. But the widow always kept an amount in the bank and never withdrew all the amount. Until her spouse died. A month after he died, she withdraw all the amount. Will she be penalized for doing so?
Thanks.
Barbs
December 19th, 2007 at 2:33 am
Good for you! i guess the meaning for RMD Ray-Monday-Dante.
December 9th, 2007 at 7:30 am
a girl? named julies(julius) poses as a down and out HOMELESS…but then agrees to do sex shows for money if you send money through XOOM..major scam its a set up model pics etc.
she trolls single sites and then plays ths sad parts…LOCK HER(HIM) UP
julies1023@yahoo.com
November 28th, 2007 at 3:52 pm
hi guys, do you have any idea regarding sales promo scams or scratch and win scam. My friend was so exited that she won a chair massager worth 100k, but she has to buy a water purifier first before she can claim the massager. In short she bought that purifier for almost 50k. Help guyz..
November 14th, 2007 at 9:02 pm
I checked out their website and tama kayo:
http://www.rmdgroupltd.co.uk/pub_docs.html
Their public docs are empty. Before you can even trade money in the Philippines dapat mag karoon kayo ng legal certificates muna. I mean it only takes 10 minutes to scan and post your document on your website. Why hanggan now wala parin kayong documentation?
I’m convinced that RMD is a scam. Investors beware!
November 11th, 2007 at 9:59 am
Just yesterday. Meron nag yaya sa akin at buong family ko, mag invest sa RMD kaya pina-check namin sa SEC. Wala po silang records duuon.
This is a scam.
November 4th, 2007 at 2:29 pm
Well said Jo.
RMD since you are already established in the US and UK, post your trading license and legal papers up on your website!
November 4th, 2007 at 2:23 pm
Tama si Mark. Meron rin ako mga kakilala galing sa franc na kumita ng malaki at sumali dito sa RMD Group. These are the same persons na nag si takbuhan when the police came to arrest the francswiss recruiters.
Kaduda duda po ang mga nag agents ng RMDgroup becareful po kayo lahat. I’m also convinced that this is a huge scam!
November 3rd, 2007 at 8:24 am
Julia says:
“your just fooling us you dont want us to become rich if you dont have money to invest in just shut your mouth okey???? ”
No Julia. I just don’t want people like you to become rich in the expense of others.
November 3rd, 2007 at 8:09 am
I agree with Nano. The RMD group should show their legitimate papers to the public through their website. Not only their Philippine License but they should also show their US AND UK License and papers as well.
If they cannot produce that then they are a scam. Wala silang K
Julia. I think you should rub your own hands and jump off a cliff because you are a filthy walang hiyang pyramiding scammer.
Totoo yun maraming yumaman sa Francswiss pero MASMARAMI ANG NA LOKO AT NA LUSAW ANG PERA DAHIL SA SCAM NA ITO.
November 3rd, 2007 at 3:30 am
Yes napaka fishy indeed. Just look at these rates take from their websites nakakagulat:
$500-$999
20% Interest 15 days (1.3 % Daily)
$1,000-$4,999
25% Interest 15 days(1.6 % Daily)
$5,000-Up
30% Interest 15 days (2.0 % Daily)
I have been investing in stocks, mutual funds and bonds for over 30 years and these are impossibly high interest rates. Thats around 20% for 15 days! Even the greatest investor in the world Warren Buffet only made 30% YEARLY on legitimate investments! Nakakatakot!
Read more about Ponzi schemes here:
http://en.wikipedia.org/wiki/Ponzi_scheme
November 2nd, 2007 at 3:58 pm
RMDgroup, I’m sorry I am not quietly sure for this kind of business. But I agree from Nano statement if you are really legally responsible to your business there is no reason to not affix your DTI, SEC certificate and provide the necessary reference on your website..