Exercise caution against "investment opportunities" that are circulating on Facebook and chat groups such as WeChat or Telegram. Before making an investment, it helps to know the difference between a legitimate investment and a scam.
Protect yourself by watching out for these red flags:
#1: It sounds too good to be true.
Be suspicious of investments that claim to be "100% safe." All investments carry a certain level of risk.
#2: It promises “guaranteed” returns.
Returns on investments ranging from 10% to 400% per month or week are highly unrealistic and may be fraudulent.
#3: Government licenses cannot be provided.
When in doubt, ask for their BIR registration and SEC secondary license if they are authorized to collect investments. Make sure to always check the legitimacy of the documents they share.
Tip: Visit our Help Center for SEC advisories. For more information, you may also contact the SEC Enforcement and Investor Protection Department (EIPD) at (02) 8818-6047 or epd@sec.gov.ph.
#4: Payments aren't made to a business account.
If your payments are being made to an individual’s account rather than a business account and it has no official receipt, it’s likely that this may not be a licensed investment offer.
Related: 4 Tips to Send Money Online Securely
#5: Pressure to buy RIGHT NOW.
Don’t be pressured or rushed into buying an investment before you have a chance to think about – and investigate - the “opportunity.”
If you receive anything suspicious or encounter investment scams and fake Coins.ph pages, please inform us immediately. You may send us an email at help@coins.ph or tap Send us a Message in your app. Stay vigilant and help keep the Coins Community safe and secure!
