Added: Christpoher Sholes - Date: 22.10.2021 00:58 - Views: 23018 - Clicks: 5440
Online selling scams, phishing, and pyramid scams have proliferated, as unemployment soared amid the coronavirus crisis and recession. Since April, the Securities and Exchange Commission SEC has ordered several organizations to stop operations for various reasons, including lack of proper documents, as well as promising ridiculously high returns for small amounts. Here are some of them and their schemes:. CROWD1 - Solicits investments from the public by offering "educational packages" for a minimum of P6, and as much as P,, and promises bonuses.
It claims that it generates income from online games. A person earns through referrals. Forsage - Touts a platform based on Ethereum ETH blockchain technology, which supposedly provides long-term active and passive income to investors through a crowdfunding referral system.
RCashOnline - Offers business packages, including Royale products for resale, starting at P18, for one and going as high as P, for 7 s with insurance worth P1 million. The scheme relies heavily on recruiting members in exchange for high monetary rewards rather than on selling products. Its registration was revoked as early as February 3, , for noncompliance with reportorial requirements. The SEC said the company does not have a , and flagged its ridiculous rates of return.
The SEC also identified the following groups engaged in investment-solicitation activities without the necessary s:. But 3 weeks into the pandemic, they had an additional 70 cases. He explained that people always being online during the quarantine period has become an "opportunity for attack. Phishing targets are reached via , telephone, or text message by entities posing as legitimate institutions. GMA News reported a scheme where a scammer will pose as a buyer of millions of pesos' worth of face shields.
This scammer would work with a fake supplier. At the last minute, the victim would be asked by the buyer to cover expenses. But on the day of the delivery, the supplier would not show up. Trade Undersecretary Ruth Castelo urged the public to check if businesses are duly registered with the SEC before entering into transactions.
A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture. Ralf Rivas. O Azenzo-Online. Face shield scams. Even bulk buyers of face shields have become the latest victims of an old modus operandi. The victim will then be made to believe that he or she would act as middleman. Ralf Rivas RalfRivas A sociologist by heart, a journalist by profession.Filipina scams internet
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Pandemic lets loose scammers in recession-hit Philippines