SEC Holds Inaugural ASTIG Partners Meeting to Enhance Financial Literacy, Fight Financial Scams

The SEC conducts the first Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting on March 17 at The SEC Headquarters, bringing together its 35 partner agencies from the government and law enforcement authorities, and other stakeholders.

​The Securities and Exchange Commission (SEC) is ramping up collaboration efforts with its network of partners to promote financial literacy and combat fraudulent investment activities among the public.

​On March 17, the SEC convened the inaugural Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting, bringing together 35 representatives from government agencies, law enforcement, and other key stakeholders, to exchange ideas on how to address the growing threat posed by fraudulent financial schemes targeting Filipino investors both locally and internationally.

Partners include key government offices such as the Department of the Interior and Local Government, the Department of Migrant Workers, the Bangko Sentral ng Pilipinas, the Department of Trade and Industry, and the Philippine National Police.

The meeting aimed to develop a comprehensive action plan that will curb financial fraud anchored on enhancing public awareness campaigns and fostering stronger inter-agency cooperation and enforcement activities.

The ASTIG network also emphasized the need for a decentralized approach in the implementation of anti-scam initiatives, citing the importance of empowering and capacitating local government units, especially at the barangay level, to ensure that local officials are equipped to identify and prevent fraudulent activities, enabling them to protect their communities better.

“The first ASTIG Partners Meeting represents a significant step forward in this effort, with government agencies, law enforcement, and other partners united in their resolve to protect the public from financial fraud,” SEC Chairperson Emilio B. Aquino said.

“Moving forward, stakeholders will continue to work together to strengthen and expand the nation's anti-scam campaign, ensuring a safer and more secure financial environment for all Filipinos,” he added.

ASTIG, which is a component of the SEC Communication, Advocacy, and Network (SEC CAN!) Initiative, taps the country’s local government units to educate and raise the awareness of the public on investment scams through information sharing and training of enforcement agencies.