Industry

If You See This 'Investment Opportunity,' It's a Scam

Report it to the PSE.
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We all think we know better than to fall prey to scammers looking to make an easy buck, but the reality is that even the best of us can still sometimes get hooked by seemingly legitimate investment opportunities. 

On Monday, the Philippine Stock Exchange issued a memorandum circular advising the public against a person soliciting funds for a supposed blockchain investment.

In a series of screenshot messages provided by the PSE, the suspect introduced herself as a part of the “newly established trading project team of PSE (Philippines Stock Exchange) blockchain digital currency, and have cooperated with many banks around the world for many years.”

The individual goes on to guarantee returns of as much as 20 percent to 30 percent daily or $1,000 to $2,000 (roughly P50,000 to P100,000) monthly.

However, the PSE has said that it does not sell cryptocurrencies and that “its employees or agents do not promote, for purposes of investment, any specific stock, investment instrument, or cryptocurrency.”

“The PSE reminds the investing public to exercise prudence and due diligence in dealing with social media accounts the purportedly offer investments and represent themselves as employees or agents of the Exchange.”

Again, when it comes to outlandish offers of investments that you get from strangers, if it’s too good to be true, it probably is.

See the screenshots here: 

Photo by PSE.
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Photo by PSE.

Photo by PSE.

Photo by PSE.
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Paul John Caña
Associate Editor, Esquire Philippines
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