MANILA (October 6) — The Securities and Exchange Commission (SEC) has warned the public against individuals and groups posing online as aid providers to scam victims, saying such schemes are designed to defraud them a second time.
In a statement Friday, the SEC said these groups operate through Facebook pages, online groups, and other social media platforms, often claiming to help recover funds lost to scams in exchange for advance fees or personal information.
The Commission noted that the entities misrepresent themselves as affiliated with government agencies or law enforcement, fabricate documents and testimonials, and use high-pressure tactics to compel victims into paying or disclosing sensitive data.
“These online accounts or entities are not authorized by the Commission and have no legal authority to provide recovery services. On the contrary, they are being utilized as instruments to exploit already vulnerable victims,” the SEC said.
It urged the public not to remit money or share information with such groups and advised scam victims to file complaints directly with proper authorities. Requests for assistance may be sent to the SEC Enforcement and Investor Protection Department at epd@sec.gov.ph.
