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Beware of the recharging and tasking scam. It is also known as “click fraud” and "order-grabbing" scams.
What is a Recharging and Tasking Scam?
Tasking and Recharging Scams are where the public is invited to purported online jobs by performing certain tasks for the promise of receiving monetary rewards, or what they call commissions, and once the tasks are completed, the investor will be given another task to perform for the same promise of receiving commissions, which can only be withdrawn upon payment of what they call a “tax charge".
Based on the information gathered by the Securities and Exchange Commission (SEC), recharging and tasking scams are conducted as follows:
Recharging and Tasking Scams involve the offering and sale of securities in the form of “investment contracts” as defined under Section 3.1 of the Securities Regulation Code. An investment contract exists in Recharging and Tasking Scams as there is an investment or placement of money (minimum amount of Php 100.00 to a maximum of Php 50,000.00 pesos) in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.
As such, the Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public.
Further, Recharging and Tasking Scam shows indication of a possible “Ponzi Scheme” where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.
The offering and selling of securities in the form of investment contracts using the “Ponzi Scheme” which is fraudulent and unsustainable, is not a registrable security. The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme.
In view thereof, the public is hereby advised to not to invest or stop investing in this Recharging and Tasking Scam and its representatives.
Those who act as salesmen, brokers, dealers or agents of Recharging and Tasking Scam, in selling or convincing people to invest in the aforementioned investment scheme including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php 5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC.
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.