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SEC, TikTok partner vs investment scams
The Securities and Exchange Commission (SEC) and TikTok have partnered to promote financial literacy and combat investment scams among Filipinos.
The collaboration, formalized through a memorandum of understanding, aims to equip Filipinos with the knowledge to identify and avoid fraudulent schemes.
SEC Commissioner Rogelio V. Quevedo emphasized the importance of financial literacy and warned against deceptive investment offers, especially during the holiday season.
A recent survey by the Global Anti-Scam Alliance revealed that over 75 percent of Filipino adults have encountered at least one scam in the past year.
The campaign will utilize educational videos titled #ThinkTwice, which will be shared on TikTok and SEC's social media platforms to encourage users to pause and reflect before acting on suspicious online offers.
The initial video will focus on explaining how Ponzi schemes lure victims with promises of high returns and deceptive language.
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