14 Agosto 2024, Miyerkules
Register now and vote in midterm polls
supports Agosto 2024, Buwan ng Wikang Pambansa
Aspirants file your certificate of candidacy on October 1-8,2024
Substitute candidates must be with same surname and political party
Partylist must file Certificate of Nomination and Acceptance
No to Divorce!!!
Get well soon Nanay Angelita Santiago-Lopez
No to SOGIE bill
PM for any hospital discharge problem
Fake government accounts
By J.Lo
“Based on information provided, there is an online advertisement about investing in PSE…when potential investors express interest, they are contacted through messaging applications… supposed investment is shown to be doing well and investors are asked to increase their investment amount through various e-wallet accounts,” Philippine Stock Exchange Inc. (PSE) and Securities and Exchange Commission (SEC) are alerting public about schemes impersonate legitimate entities and personalities to entice public to invest.
Department of Agriculture agency also said fake social media accounts are using government names to promote certain fertilizer claiming to be effective in boosting crop yields.
Philippine Rice Research Institute (PhilRice) said at least two social media pages surfaced online recently were falsely representing the institution as well as Rice Competitiveness Enhancement Fund (RCEF) Extension Program.
PSE, meanwhile, said fraudulent cryptocurrency investing scheme using its logo and name on its website is luring potential investors to register and create account through website “https://pse-philippine.com/User/index.”
As part of scheme, investors will be informed that they entered wrong order, leading to loss of account’s withdrawal password.
To address issue, scammers will then offer to consult with PSE’s customer service. Solution provided is to create new account that requires new deposit and completion of new tasks.
According to PSE, messaging applications present few other members who appear to be in the same predicament, but who allay doubts or fears about scheme by showing they have been able to withdraw their investments.
PSE does not own and operate website“https://pse-philippine.com/User/index.”
Further, it stressed it does not sell cryptocurrencies and that its employees or agents do not advertise or promote cryptocurrency.
“PSE reiterates that all legitimate stock transactions are done through PSE-accredited trading participants or stock brokerage firms… PSE and any of its officers, employees and agents do not undertake stock transactions on behalf of clients,” it said.
In separate advisory, SEC urged public not to engage with Bagong Bansang Maharlika (BBM) International Inc., a group using President Marcos’ name and whose corporate registration has been revoked due to its illegal solicitation of investments.
Despite issuance of revocation order as early as November 2023, SEC said BBM International maintained its operations in certain parts of Visayas and Mindanao.
SEC said BBM International’s corporate registration was revoked due to its collection of membership fees from residents of various local communities, promising to provide food security, free education, free hospitalization, cash assistance and livelihood to all Filipinos aged one year and above worldwide.
To create false impression that its programs are legitimate and sanctioned by current administration, it also made use of Marcos’ image as part of its marketing materials.
As early as Aug, 28, 2023, SEC has issued advisory to investing public to exercise caution when dealing with the group.
SEC warned those who act as salesmen, brokers, dealers or agents, representatives and promoters of unauthorized investment activities may be held criminally liable under Financial Products and Services Consumer Protection Act as well as Securities Regulation Code, both penalized separately up to P5 million or imprisonment of up to 21 years, or both.
PSE, for its part, encourages public to exercise extreme caution and vigilance in dealing with companies or individuals soliciting stock investments, especially those which promise guaranteed returns or income.
“Investment scams usually involve promises of big payouts, quick money or guaranteed returns and do not contain disclosures on risks of investing,” it said.
Meanwhile, fake PhilRice accounts were misleading public in promoting certain product called Super Seed Organic Fertilizer.
Agency noted fake accounts were also claiming Emil Javier, national scientist, was reportedly endorsing the fertilizer as “groundbreaking” product that can “revolutionize” country’s agriculture sector.
Fake social media accounts are also using name of Rodel Maghirang, former director of Institute of Plant Breeding of University of the Philippines Los Baños, in promoting product.
“It is disheartening to see misuse of our institution’s name and credibility in marketing scheme,” John de Leon, PhilRice executive director, said.
“We urge public to exercise caution and verify information before trusting online sources…our official channels are the only reliable sources for updates and advisories related to our programs and services,” De Leon added.
ISKUP! 