The Securities and Exchange Commission (SEC) is warning people against individuals and groups using the coronavirus disease 2019 (Covid-19) pandemic to “defraud investors and consumers.” In a statement, SEC Chairman Emilio Aquino said his agency was encouraging “the public to carefully study and examine offers and invitations to participate in schemes promising easy money, especially in these difficult times.” The SEC identified at least 14 groups engaged in “unauthorized investment-taking activities and other fraudulent activities” since the government declared a state of national public health emergency in early March. These include MAGINVESTKA.ONLINE (MIK.O) and Azenzo-Online, which are not registered, either as a corporation or partnership. The SEC also told the public to be wary of a text scam using the name of President Rodrigo Duterte.

Source: Manila Times April 03, 2020 17:26 UTC