PSE Warns the Public Against Investment Scams

In a PSE Memorandum CN No. 2023-0069, dated December 18, 2023, The Philippine Stock Exchange, Inc. (“PSE” or “Exchange”) received reports of a fraudulent blockchain solicitation scheme using an alleged PSE account in Lazada that bears the logo of the Exchange and acronym,  PSE. The scheme lures potential investors to register and create an account through the website “https://ealink06.top/h5/#/.”.

PSE is misrepresented as the trading platform provider.

Based on the information provided, a potential investor is asked to complete several tasks that guarantee instant returns. The first task is to deposit an initial payment amounting to Php 3,000 through a portal to be followed by several more tasks requiring additional deposit, which allegedly guarantees a 30% profit per deposit made. After the task is completed, the potential investor is provided a withdrawal order that enables him/her to complete a supposed refund, become a full-fledged member of the network and receive Php 5,000 as additional reward. Once the potential investor is done with the task, he/she is then led to a falsely misrepresented PSE Portal which contains data on digital currencies.

You may read related article, Common Types of Fraud and Scam: Recharging and Tasking Scam

The public is advised that PSE has no such account or partnership with Lazada, it does not sell cryptocurrencies, and its employees or agents do not advertise or promote, for purposes of investment in cryptocurrency.

The PSE reiterates that all legitimate stock transactions are done through PSE-accredited trading participants or stock brokerage firms. PSE and any of its officers, employees and agents, do not undertake stock transactions on behalf of clients. The complete list of the accredited stock brokerage firms of the Exchange is available in the PSE website (www.pse.com.ph) under Trading > Trading Participants.

The Exchange encourages the public to exercise extreme caution and vigilance in dealing with companies or individuals soliciting stock investments, especially those which promise guaranteed returns or income. Investment scams usually involve promises of big payouts, quick money or guaranteed returns and do not contain disclosures on the risks of investing.

The public may contact the PSE to verify the legitimacy of stock investment schemes and the authenticity of documents that are supposedly issued by the Exchange. The PSE’s contact details are +632 8876-4888 and [email protected].