Avoid Investment Fraud - Aklan Police Provincial Office

Avoid Investment Fraud - Aklan Police Provincial Office

KALIBO, Aklan–The Aklan Police Provincial Office (APPO) warned the public not to fall prey to investment scams or questionable entities.

The warning came after a number of Philippine National Police (PNP) and Department of Education (DepEd) personnel in the region were found to have been victimized by fraudsters.

Police Major Willian Aguirre, assistant Unit Chief of APPO Provincial Investigation and Detective Management Unit, revealed that unsuspecting victims are targeted to invest their hard-earned money into quick-rich investments.

Aguirre said the public should exercise extreme care and always be on the lookout for scam artists trying to swindle them of their investments and retirement accounts. He also cautioned people to be wary of the promises of enormous and guaranteed gains with little or no risk by unregistered investment entities.

To spot the red flags, the investors should examine the investment offering, do a background check, and ask the particular seller or agent of their proof of legitimacy and transparency.

“Be wary of their too-good-to-be-true promises. Maraming kapulisan natin sa Capiz ang nag-invest sa double-your-money scam. Hindi lamang ordinaryong tao ang nahikayat mag-invest, mga teachers din, believing they could get their money sa scheduled pay-out [Many of our law enforcers in Capiz invested in the double-your-money scam. Not only ordinary people were duped into investing, but also teachers who believed they could get their money back on the scheduled pay-outs],” Aguirre said.

He also encouraged would-be investors to first check whether the investment schemes are regulated or registered with the Securities and Exchange Commission, Bangko Sentral ng Pilipinas, and other government regulators.

Aguirre likewise urged the public to report to authorities those individuals or companies involved in investment scams.

“Maging aware tayo sa mga sitwasyon. Umaapela tayo sa publiko na iwasan ang mga opportunists, lalo na sa ganitong pandemya [We should always be aware of situations (we are in). We appeal to the public to steer clear of opportunists, especially in this time of a pandemic],” he added.

So far, the police have been made aware of individuals or groups of persons in Aklan victimized by the alleged investment scam in Capiz./(Boy Ryan Zabal/INews-Aklan/Boracay Bureau)

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