DTI warns against pyramiding scam
TACLOBAN CITY- The Department of Trade and Industry (DTI) has issued a warning to the public against pyramid scams and other forms or acts that would dupe and divest people of their hard earned money.
DTI-8 regional information officer Lemuel Montes said that among the common omission of scammers; investments that would double your return of investment, easy money and quick money with interest more than what is given by banks, urging the person to immediately join a group or risk losing your risk free or 100% return of your investment, asking you to deposit for ‘shipping fee’ insurance, registration fee of a prize you won or a free gift using only your contact number, asking for your personal information like bank account number, credit card numbers, PIN and passwords, you won in a lotto or raffle that you did not even join, the business being offered has no written contracts or proofs whatsoever.
Montes also said that the public in order for them not to become victim of pyramid scams and other forms that would dupe and divest people of their hard earned money be sure that the name of the business is registered with the Department of Trade and Industry (DTI) or the Securities and Exchange Commission (SEC).
Further, be aware that anything offered, like “investment product” is registered with SEC.
He also advised the public to always keep proofs of purchase like receipts, contracts, agreements or certificates and other documents similar to these for your security.
For complaints and inquiries against scammers and other kinds of duping, please visit the nearest DTI or SEC offices. (RYAN GABRIEL L. ARCENAS)
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