SEC Warns Against Advance Fee Scam

​The Securities and Exchange Commission (SEC) has issued an advisory warning against a sophisticated Advance Fee Scam that has been circulating. This scheme involves the unauthorized use of the SEC’s official logos and the name/photo of the current SEC Chairperson, Francis E. Lim.

Key Details of the Advisory​

According to the official advisory released on February 25, 2026, the scam typically operates as follows:

• The Hook: Fraudsters contact individuals claiming they have "unclaimed funds," "inheritance," or "compensation" waiting for them.
• The Impersonation: To appear legitimate, they use the official seal of the SEC and the identity of Chairperson Lim to sign fake documents or "certificates of clearance."
• The Scam: Victims are told they must pay an "advance fee," "processing fee," or "tax" before the supposed funds can be released.
• The Reality: Once the fee is paid, the scammers disappear. The SEC does not participate in the release of private funds or inheritances, nor does it charge "advance fees" for such services.

Protecting Yourself​

The SEC reminds the public that it is a regulatory body and never authorizes the use of its logo or its Chairperson's image for private financial transactions.

Do's

• Verify any communication through official SEC channels (sec.gov.ph).
• Report suspicious messages to the SEC Enforcement and Investor Protection Department (EIPD).
• Check if the entity contacting you is a registered corporation with a secondary license.

Don'ts
​

• Never pay an "advance fee" to claim a prize or inheritance.
• Do not share personal bank details or valid IDs with unverified callers.
• Avoid clicking links in unsolicited emails or social media messages.