BI warns of new stock market scam targeting Filipinos

The Bureau of Immigration (BI) has issued a warning about a new stock market scam targeting Filipinos, where victims are coerced into luring others into fraudulent stock trading platforms.

Filipino victims, often in their 20s and 30s, are compelled to recruit other Filipinos to invest in these fake platforms, facing torture and abuse if they fail to meet quotas or refuse orders.

Immigration Commissioner Joel Anthony Viado stated that these criminal groups exploit trust and financial aspirations with false promises of lucrative employment.

Viado urged the public to be vigilant, emphasizing that legitimate employers do not require employees to scam their own citizens or invest through unofficial channels.

The BI reported that eight Filipinos, aged 20 to 30, were rescued and repatriated on December 31 after being trafficked abroad through online recruitment and social media offers.

Nineteen other Filipinos were also repatriated from Cambodia on the same day, including four who left the country through Palawan.