The Department of Trade and Industry (DTI) has warned the public against fraudulent investment schemes amid reports several groups are preying on unsuspecting individuals in Bislig City in Surigao del Sur.
In an advisory, the DTI-Surigao del Sur urged the public to be vigilant and to exercise self-restraint in investing their hard-earned money in suspect investment schemes and proposals.
The DTI said it received information that several groups who are not authorized to solicit investments are operating in some parts of the province , particularly in Bislig.
The scammers, who said to be focusing its operations in Bislig are collecting investments from the public using a more creative promotional and solicitation activities, promising a 30-percent return on the victims’ money every month for the rest of their lives.
The DTI said it was closely coordinating with police authorities to unmask perpetrators of investment scams.