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Consulate warns OFWs vs. investment scams

15 November 2018



By The SUN

Filipino workers in Hong Kong are being warned by the Consulate against falling prey to scammers who offer investment plans.

“Beware of financial fraud and investment scams in Hong Kong,” the Consulate says in a public advisory dated Nov 13 that is posted in strategic areas of the Consulate at United Centre in Admiralty, and on its website.

The warning was welcomed by Hong Kong-based workers, who also gave their own advice against heeding glib-tongued people who approach them with investment plans promising high and quick returns.

Ironically, at least three sales networking operators joined the online discussions to plug their own businesses.

The Consulate urged the Filipino community in Hong Kong to be vigilant and cautious in dealing with any person or company that approaches them with investment offers.
“Do not deal with any financial company that is not licensed by the Philippine authorities to avoid (becoming) a victim of scams,” the advisory said.

The Consulate said any information about investment scams and related activities in Hong Kong should be reported to the hongkong.pcg@dfa.gov.ph or at telephone number +852 9155 4023.
But when contacted for any recent reports of such scamming cases, a female staff at the Consulate’s assistance to nationals section said the warning was not based on any new case.

“The Consulate has been issuing warnings against financial scams regularly and the workers are warned about the problem in their pre-departure seminars by still some of them fall victims to such schemes,” she said.
Commenters added their input to the advisory.
 
“Puwede umattend ng mga financial literacy (seminars) kung paano mag-invest pero avoid na lang na magbigay ng pera,” said one Magdalena Celoso.

She suggested OFWs should just put up their own businesses even if they have only a little capital, which they could save up for within five years.
Other commenters warned that some offers are too good to be true. Still, others advised their fellow workers not to fall for promises of instant wealth but rely on hard work.

“Iiingat ingat lang, mga kabayan. Huwag magpadala sa magandang salita. Siguraduhing ang pinaghirapan ay di mapunta sa wala. Walang masama ang sumali sa mga networking business. Pero maging alerto. May tunay at may peke. Hindi po tayo maging milyunaryo sa isang kisapmata lang,” Raiche Albaceno Ozalda

Commenter Marycone Castres said it is best to invest in property like farm lands, or vehicles for public transport. But one must be patient in saving up for this. 

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