Scam Alert: Don’t Fall for Fake PSE Logos and Imposter Brokerage Firms

The Philippine Stock Exchange, Inc. (“PSE” or “Exchange”) received reports from investors and PSE-accredited Trading Participants (TP) about fraudulent investment schemes that use the name and logo of the Exchange and TPs in letters to investors and in messaging app accounts. Scammers have also been assuming the identities of PSE and TP officers and employees by using their names and signatures in documents.

Among the scams perpetrated by these unscrupulous individuals is asking for tax payment as a condition to release the capital and supposed profit made by investors in their fake investment schemes.

Here are some reminders to protect the public from scammers:

• PSE employees or officers do not solicit investments, or reach out to individual investors whether through letter correspondence, instant messaging apps, social media platforms or other communication channels.
• Stock market trading is done through PSE-accredited TPs or stock brokerage firms, where an investor must open an account with in order to buy or sell shares of stocks. 
• Before transacting, contact the TP through their contact details published in the PSE Trading Participants Directory. Do not use the website link or contact information provided by the person claiming to be a representative of the TP as you may be given fake contact information.
• Ask the TP to confirm if the person offering the investment is their employee and inquire about the legitimacy of the investment offered. Alternatively, you may contact the PSE or SEC to verify these information.
• Do not readily deposit funds being required for investments to a personal bank or e-wallet account. Payments for legitimate stock transactions are usually done through official, corporate bank accounts. As an extra pre-caution, new investors may opt to settle fees for their first transaction over-the-counter, rather than bank transfer as bank details provided through messaging apps may be altered.
• Information on fees and taxes charged in legitimate stock transactions are available on the PSE website: Investing Procedures - Transaction Fees & Taxes
• Do not entertain investment solicitations that guarantee and promise high returns.

PSE disclaims any obligation or liability for decisions made or action taken based on fraudulent communications that use the PSE’s name and logo.

The Exchange strongly warns individuals to be cautious and verify the legitimacy of any investment advice or solicitation that claims affiliation with PSE and PSE-accredited TPs, especially those shared via messaging apps.

To report suspected unauthorized use of PSE’s name, logo, and contact information or to verify claims and report potential fraudulent acts, you may call PSE at (+632) 8876-4888 or send an e-mail to [email protected].