Skip to main content

PNP, GCash raise awareness on online investment scams

Growing wealth through investment has recently been made easier and simpler with the emergence of online trading platforms. Unfortunately, this has also resulted in the rise of unscrupulous individuals exploiting online investors.

To safeguard Filipinos from falling into the hands of these fraudsters, the Philippine National Police Anti-Cybercrime Group (PNP-ACG) and the Philippines' leading mobile wallet GCash share a few guidelines on how to know if an online investment offer is a scam.


“As a financially inclusive investment platform, GCash continues to give Filipinos access to online investment opportunities, but at the same time, we are also working hard to educate and give our users knowledge on how to avoid scams,” said AJ Sibal, GCash Fraud Management Head.

The most basic description of such a scam is a high return on investment in just a short span of time.

“Beware of these types of promises as they are too good to be true. For example, they will promise 50% profit in just two weeks. Worse, they seem to be in a hurry for you to send the seed investment money immediately,” warned PNP-ACG spokesperson P/Capt. Michelle Sabino.

Another red flag is when the offer is very secretive of their company information. As one of the key players in the investment landscape via in-app features such as GFunds and GStocks PH, GCash strongly advises investors to check the List of Public Companies by the Securities and Exchange Commission (SEC) first to make sure investment offers are legitimate.

GCash reiterates its warning to users to never disclose their MPIN or OTP and to avoid clicking on unknown links from websites, emails, or messaging apps. For assistance, users can contact the PNP-ACG through their hotlines at (02) 8414-1560 or 0998-598-8116, or via email at acg@pnp.gov.ph. To report scams and fraudulent activities, users can also visit the official GCash Help Center at help.gcash.com or message Gigi on the website and type “I want to report a scam.” Customers can also reach out to the official GCash hotline at 2882 for inquiries and other concerns.

For more information, visit www.gcash.com.ph.


Comments

Post a Comment

Check out more...

5 moments that made the 2022-23 NBA Season epic

Rewatch the season that was – and more – with NBA League Pass powered by PLDT Home!   The 2022-23 NBA season has been nothing short of epic. From the league’s best players cementing their legacies to teams achieving historic feats, the NBA has provided some of the best storylines throughout the year – all of which Filipino fans can revisit through NBA League Pass powered by PLDT Home. As the season culminated with the Denver Nuggets dominating over Miami Heat, 4-1, here’s a look back at some of its best moments: 1.  Big trades shock the league An NBA season isn’t complete without teams making huge moves before and at the league’s trade deadline. The Dallas Mavericks made the first big move, trading Spencer Dinwiddie and Dorian Finney-Smith to the Brooklyn Nets for Kyrie Irving, adding another superstar to their team to back up Slovenian superstar Luka Doncic.   However, the biggest trade was completed during the deadline, when the Phoenix Suns landed Kevin Durant in a mas...
Post a Comment
Read more

5 Awesome Things You Could Enjoy If You Had One Less Bill to Pay

Imagine getting your monthly internet bill ( typically costing around P1,000 or more )  completely covered. That’s right:  free internet , and with it, a whole new world of possibilities.   Just think—if you had an extra ₱1,000+ in your monthly budget, what would you do? Here are five awesome ways to enjoy that extra cash:   1. Upgrade Your On-the-Go Gadget Essentials Always on the move, but your phone’s battery can’t keep up? That extra budget could go towards a high-capacity power bank, wireless charger, or travel-friendly charging hub. Whether you’re saving up or finally buying that must-have gadget, that extra P1,000 can go a long way  for your next gadget upgrade .   2.  Level Up Your Entertainment Experience Free  internet means unlimited streaming ,  but  how  about upgrading your setup? Use the extra cash for smart speakers to boost your  audio or  invest in accessories to enhance your smart TV. Into gaming? Spend ...
Post a Comment
Read more

GCash cautions against gambling apps used for phishing

A recent investigation by the National Privacy Commission (NPC) and the leading mobile wallet GCash, has led to the discovery of certain gambling sites and apps which were used for account takeovers in the recent surge of phishing scams. Additionally, some influencers may have unknowingly promoted these gaming apps without being aware of their fraudulent nature. GCash is now cautioning its users to be extremely careful when accessing online gambling sites and apps, and to avoid them altogether if possible. In this latest scheme, perpetrators created gambling apps while falsely claiming to be accredited by the Philippine Amusement and Gaming Corporation (PAGCOR). These apps deceive users with a verification process, redirecting them to a fake GCash website or payment page to top up betting credits. From there, fraudsters were able to access sensitive information such as credit card details, passwords, GCash numbers, MPINs, OTPs, and other personal data that can be exploited to gain unau...
Post a Comment
Read more

Celebrate the Mid-Year with realme's 6.6 Mega Sale

Enjoy huge discounts among freebies, vouchers, bundle deals as  realme joins Shopee and Lazada 6.6 Sale Events! realme Philippines will host a mid-year 6.6 sale on Shopee and Lazada, giving away vouchers and freebies besides the irresistible discounts for everyone. The realme 6.6 Mega Sale is the perfect excuse for an upgrade or to reward oneself after a buzzing first half of the year!   From June 6-8, realme will be offering up to 59% OFF during the Shopee 6.6 Mid-Year Sale on the realme C-Series and realme 10 (8GB+128GB). Every purchase of select smartphones will also come with a FREE Globe SIM card. Meanwhile, everyone who will avail the realme 10 Pro+ 5G (12GB+256GB) will be getting a FREE TechLife Power Bank 100000mAh along with a FREE TechLife Portable Blender 40W. On top of this, consumers can also get 15% OFF vouchers for a much sweeter deal and SPayLater for more flexible payment terms!   Here’s a quick guide to all the realme promotions this coming Shopee 6.6 Mi...
1 comment
Read more

Enjoy up to 29% OFF on select realme smartphones this 6.6. TikTok Birthday Sale

Don’t miss out on BIG discounts as realme celebrates TikTok 6.6 Birthday Sale! It’s finally TikTok’s 6.6 Birthday Sale and realme Philippines goes all-in to celebrate with whopping discount offerings from June 1-8 only.  Mark your calendars and get up to 29% OFF on select realme  smartphones and up to 40%  on select realme AIoT products. On top of this, the Squad is also in for a treat since they can take home exciting freebies all-week long!  From June 1-8, every purchase of the real me  C35 (4GB+128GB)  comes with a FREE TechLife Buds Classic, while anybody who will avail the  realme C33 (4GB+64GB)  will get a C-Series Tempered Glass as a freebie. To make things even more thrilling, the first few customers to buy a realme 10 Pro+ 5G (12GB+256GB) from  June 4-8  will get their very own realme Watch 3 for FREE . Additionally, everyone will also get a FREE TechLife Power Bank 100000mAh for each purchase of realme 10 (8GB+128GB), realme 10...
Post a Comment
Read more