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DOF warns public vs fake investment schemes

By Richa Noriega

The Department of Finance (DOF) warned the public against fake news about unauthorized investment schemes using the name of Finance Secretary Carlos Domiguez and other government officials to lure investors.

In a statement on Tuesday, the department reiterated its warning to the public against links to the fake news articles online as these may compromise the user’s data privacy and other essential information.

The department said that the schemes typically use clickbait headlines to encourage social media users to visit their sites, which can in turn extract data and even financial information from site visitors.

DOF urged the public to report suspicious investment schemes to the Enforcement and Investor Protection Department of the Securities and Exchange Commission (SEC), with telephone number (02) 8818-5704.

The department also warned those behind unscrupulous and unauthorized investment schemes that the government is monitoring the public space and will take appropriate legal action.

Source: Manila Bulletin (

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