FOREX SCAM

Anti-Scam Unit monitors illegal forex trading in Davao City

An image of forex trading is seen from a mobile phone. City government of Davao’s Anti-Scam Unit head Semplicio Sagarino says the agency is currently monitoring illegal forex trading in Davao City after receiving reports about such activity. Lean Daval Jr

Following the downfall of several investment schemes such as KAPA, Rigen, ALMAMICO and Ever Arm, the Davao City Anti-Scam Unit (ASU) is now keeping an eye against illegal forex trading in Davao City.

ASU head Simplicio Sagarino told Edge Davao they are monitoring illegal forex trading after their office received a report about such activity. He also said they are ready to file charges if there are complainants who will surface.

“So far wala na’y mga investment schemes sa Davao pero ang naa karon is the trading. Naay mu-trade like forex pagkahuman mu-invite ug mu-invest. Kanang mag-trade daw siya sa forex, wala man diay siya kuwarta maong mag-invite siya ug investors para maka-trade siya through online ang transactions. Lisod ni sila ma-identify kay online man ang transactions pero kung naa lang mu -stand as witness, puwede na ma-filan ug kaso,” Sagarino said.  

He warned the public not to engage to forex trading scams as it will only rip them off of their hard-earned money citing that there had been one illegal forex trader in Davao who is now in hiding after investors seek the help of the ASU.

“Gina-patawag namo ng naga-trading pero karon nagtago-tago na sukad naay nag-invest niya. Karon dili na siya makontak. Daghan gihapon madani sa mga ingon ani nga investment schemes tungod kay maayo man mu-storya ang nang scam. Labi na ug hatagan ka ug pila porsyento. Ma–entice jud ang tao ana,” he said.  

Marketing ploy?

The ASU office also advised the public to be cautious from those marketers or retailers selling in the sidewalk and enticing their customers particularly elders to try their products. Sagarino said it is best to decline their invitations.

Sagarino is referring to those marketers that will entice customers to try their products for free, yet, after convincing their customers will be priced a bit expensive.   

“Dili magpataka ug duol dayon kung naay i-offer na free kay naa diay kay bayaran pagkahuman. Sama anang massaging chair nga palingkuron ka unya i-masahe. Pero pagkahuman baligyaan naka ato nga pirting mahala,” Sagarino said.

He added that a complainant reported to their office who was victimized by these marketers. He also said an incident involving these type of retailers happened in San Pedro Street and R. Magsaysay Avenue.

“Naa na nag-reklamo ana sa among ofis ug nauli man hinoon to ang iyang kuwarta. After that incident they stopped selling na,” he said.

Sagarino said, although, these marketers are legit but what make them deceptive is the way they make business.      

“Grupo ni sila nga mamaligya-ay. Pero legit ni sila nga kompanya pero tungod sa kamahal sa ilang baligya ug the way they entice customers dapat magbinantayon jud ta labi na ang mga tigulang,” he said as he warned the public not to immediately disclose their ATM or credit cards.

“Ang bantayan kay pangitaan ka nila ug ATM ug credit card unya ilang i-swipe dayon mao na makakuha na jud ka sa ilang baligya. Kasagaran target nila mga tiguwang. Dili lang jud ta magpataka ug duol sa mga ingon ani ug kung naay mu-invite dili na lang jud muduol kay tapokan dayon ka nila. Kasagaran nila baligya mga gadgets, massaging chair. Daghan na sila ipakita products sa imoha. Sa sugod free pa lang pero ang sunod baligya na ug pirti pang mahala,” he said.

Sagarino cannot determine if these marketers are from Davao City but he said they are Tagalog speaking.

“Ug maayo kayo mudani ug tao. Murag dili ni sila taga Davao. Dili nato na sila maundang kay legit man sila na company pero dili lang ta mag-padani labi na kung tigulang. We also advise the public to be alert from these people kay manggawas na sila basta Christmas kay naay kuwarta ang mga tao,” he said.