MANILA, Philippines — Eight foreigners and 24 Filipino women were arrested for allegedly operating a “boiler room” for a multi-million investment scam targeting Australians at their office in Pasig City yesterday morning. National Capital Region Police Office chief Director Guillermo Eleazar said the group allegedly targeted retirees or pensioners and convinced them to invest a minimum of $65,000. He said the Filipinos arrested during the operation told him that they thought they were doing legitimate surveys for a call center company. The raids are an offshoot of another operation conducted in Alabang, Muntinlupa that led to the arrest of three people. Eleazar said that lax rules and regulations on cybercrime in the country make it easy for online syndicates to establish operations here.

Source: Philippine Star November 29, 2018 16:28 UTC