Senator Cynthia Villar reiterated her call to overseas Filipino workers to be wary of individuals promising huge return of investment in light of the rising number of victims of scams and frauds here and abroad.
“The offer of unbelievably huge revenues is enticing but you should all be careful before investing the money you earned abroad through sweat and tears. Don’t fall victims of scammers now operating here and abroad,” Villar said.
Villar, in partnership with Villar SIPAG (Social Institute for Poverty Alleviation and Governance) and Blas F. Ople Policy Center and Training Institute, has been holding anti-investment scam symposiums in different places since February 2015.
To date, close to a thousand OFWs and their families benefited from four symposiums held in Las Pinas, Mandaluyong, Bulacan, and Valenzuela City.
The 1-day symposium aims to help OFWs and their dependents in protecting their income by exposing the most common scams and the modus operandi of syndicates preying on the income of OFWs.
“Ayaw na namin na dumami pa ang mga malulungkot na kwento ng mga OFWs na naloloko sa pera. Napakarami nang pinagdadaanan na problema at pagsubok ng mga OFWs, so in our own way, we want to help provide the solution and we also want to empower you para hindi kayo helpless sa mga modus operandi ng mga unscrupulous individuals at mga sindikato,” Villar said.
During the symposium, speakers from the National Bureau of Investigation informed participants about online scams. Officers from Bangko Sentral ng Pilipinas also spoke on credit card and ATM fraud, counterfeit monies and other banking fraud.
Investment and financial literacy tips were also offered by the Global Alliance Consultancy, Inc., Government programs and support for OFWs were also presented by the Overseas Workers Welfare Administration, National Reintegration Center for OFWs and PAG-IBIG Fund. Tips on buying houses were also offered by Vista Land and Lifescapes, Inc.
“Our OFWs abroad are suffering not only because of abusive employers and unfair labor practices; unscrupulous parties are now preying on them through offers of huge bonuses and incentives,” she added.
Villar also reminded OFWs that there is no short cut to getting rich and the surest way to earn is through “sipag at tiyaga.”