Scammers in the Philippines are good at one thing: making you act before you think. They use fake “investments,” job offers that ask you to pay first, loan apps that shame you, and text messages that look like they came from your bank or e-wallet. The good news is that most scams follow patterns, and once you know the patterns, they are much easier to spot.
This guide covers the most common money scams, how to check whether a company is legitimate, and what to do immediately if you have been scammed.
Panoorin: quick video tip
The universal red flags
Before we go through specific scams, memorize these warning signs. If you see even one, stop and verify:
- Guaranteed or unusually high returns. Real investments carry risk. Anyone promising “guaranteed” or very fast profits is either lying or running a scheme.
- Pressure to act now. “Last slots,” “limited promo,” “pay within the hour.”
- Payment to a personal account or e-wallet number instead of a registered business account.
- You have to recruit others to earn.
- They ask for your OTP, PIN, password or MPIN. No legitimate bank, e-wallet or government agency will ask for these.
- They contact you first through a random text, DM, call or chat group.
- Vague explanation of where the money comes from.
1. Investment scams
These usually come as “trading,” “crypto,” “forex,” “AI bot” or “online lending” investments. They often start with a friend’s post, a Facebook group, or a Telegram or Viber chat. Early “profits” may appear in an app, but you cannot withdraw unless you add more money or pay “tax” or “release fees.”
Watch out for deepfakes too. The Anti-Money Laundering Council has warned that scammers are using AI-generated videos and voices of well-known people to make fake investment schemes look endorsed. Do not treat a video or post as proof that an investment is legitimate (AMLC advisory).
2. Pyramid and Ponzi schemes
In a Ponzi scheme, earlier investors are paid using money from newer investors, not from real business profits. In a pyramid scheme, you earn mainly by recruiting others who also pay to join. Both collapse when new money stops coming in, and most people at the bottom lose their money.
Signs:
- Your income depends mainly on recruiting, not on selling a real product to real customers.
- You are told to “reinvest” or “upgrade” to earn more.
- There is a “membership fee” or “slot” with little or no real product behind it.
- Payouts are described as “guaranteed” or “passive.”
Even if the first payout arrives, that does not prove the scheme is real. Paying early investors is how these schemes build trust.
3. Online lending harassment
Not every online lender is a scam, but some apps lend without proper authority, charge hidden fees, take access to your contacts and photos, and then harass or shame you when you are late. Typical tactics are calling or messaging your relatives, coworkers and friends, sending threats, or posting your photo as a “scammer.”
What to do before borrowing:
- Check that the company is a registered lending or financing company with the SEC (see the verification steps below).
- Read the total cost: interest, service fees and penalties.
- Be careful with apps that ask for access to your contact list, photos and messages.
The SEC has said that unfair debt collection, including harassment, threats and public shaming, is not allowed for lending and financing companies. If you are being harassed, take screenshots and report the app to the SEC (see the reporting section below) and to the National Privacy Commission if your personal data was misused.
4. Task and pay-to-work scams
These show up as “part-time online job,” “like and follow tasks,” “product boosting,” or “review jobs.” The usual pattern:
- You get a small payment for your first easy tasks (for example, a few hundred pesos).
- You are added to a chat group full of “members” posting their earnings. These are often fake accounts.
- You are asked to “deposit” money to unlock bigger tasks or “complete a set.”
- When you try to withdraw, you are told to pay more for “tax,” “verification” or “upgrade.”
A real employer does not ask you to pay to start working. If you must send money first, treat it as a scam.
5. Phishing through GCash, Maya and bank messages
Phishing means fake messages, calls or links that trick you into giving up login details, OTPs or card numbers. Common versions:
- A text saying your account will be “suspended” or “limited” unless you click a link.
- A call from a fake “customer service” asking you to confirm your OTP or MPIN.
- A fake “refund,” “reward,” or “wrong transfer” request.
- A fake login page that looks like your bank or e-wallet app.
- Fake customer-support accounts on social media replying to your complaint.
Protect yourself:
- Never share your OTP, PIN or password with anyone, including people who say they are from the bank or e-wallet.
- Do not click links in texts or chats. Open the official app yourself, or type the website address manually.
- Contact support only through the official app or the official website of the provider.
- Turn on app lock, biometric login and transaction alerts.
- If a call feels urgent, hang up and call the number printed on your card or on the official website.
How to check if a company is legitimate
For investments and lending: check the SEC
The Securities and Exchange Commission (SEC) registers corporations and regulates the public offering of investments and lending/financing companies. Registering as a corporation is not enough; a company that solicits investments from the public needs the proper license or registration for what it offers. Use these steps:
- Get the exact legal name of the company, not just the brand or app name.
- Look it up on the SEC’s official channels, such as the SEC’s “Check with SEC” tool and its website, sec.gov.ph. Type the address yourself; do not use a link someone sent you.
- Ask for the company’s secondary license or authority to do what it is offering (for example, to sell investments or operate as a lending company), not just a certificate of incorporation.
- Read the SEC’s advisories page for names of entities the SEC has warned the public about.
- If you cannot find clear proof, do not invest.
You can also call the SEC at 8818-1898 to verify (this number is listed in the AMLC advisory).
Being registered does not mean an investment is safe or will make money. It only means the entity is allowed to offer it. You can still lose money on legitimate investments.
For banks and e-wallets: use the BSP Verifier
The Bangko Sentral ng Pilipinas (BSP) has an online BSP Verifier that helps you check whether a financial institution is registered with or supervised by the BSP. Note the limits: it currently covers main offices only, it does not guarantee safety, and if a name is not listed it may be new, renamed, or regulated by another agency such as the SEC or the Insurance Commission (BSP).
What to do if you were scammed
Act quickly. Speed can matter, especially for transfers.
- Contact your bank or e-wallet right away through its official app or hotline. Report the fraudulent transaction, ask them to block or freeze your account or card, and get a reference number for your report.
- Change your passwords and PINs for the affected accounts, and for any account that shares the same password. Log out of other devices.
- Save evidence: screenshots of chats, profiles, receipts, transaction numbers, account numbers and links. Do not delete the conversation.
- Report to the authorities (details below).
- Stop sending money. Scammers often come back posing as “recovery agents” and ask for a fee. Real recovery does not require you to pay a stranger first.
Where to report
| Agency | Use it for | Contact |
|---|---|---|
| CICC (Cybercrime Investigation and Coordinating Center) | Online scams, phishing, text scams | Hotline 1326 (24/7); email report@cicc.gov.ph; cicc.gov.ph/report. You can also report through the eGovPH app (More > Report > Scam). |
| PNP Anti-Cybercrime Group (PNP-ACG) | Cybercrime complaints | acg@pnp.gov.ph; (02) 8723-0401 local 7491; 0998 598 8116 |
| NBI Cybercrime Division | Cybercrime and online fraud complaints | ccd@nbi.gov.ph; (02) 8252-6228; NBI Building, Taft Avenue, Manila |
| SEC | Investment scams, unregistered schemes, abusive lending companies | SEC iMessage portal: imessage.sec.gov.ph; main line 8818-1898 |
| BSP Consumer Assistance | Unresolved complaints against banks, e-money issuers and other BSP-supervised institutions (file with the institution first) | consumeraffairs@bsp.gov.ph; (02) 5306-2584; BSP Online Buddy (BOB) chatbot on bsp.gov.ph |
| NTC | Text scammers | consumer@ntc.gov.ph; (02) 8920 4464 |
Sources: PNA on Hotline 1326, CICC announcement, AMLC advisory, BSP consumer assistance, BSP Verifier. Contact details can change, so confirm them on the agency’s official website before reaching out. Be careful of lookalike pages and fake “agents” claiming to be from these offices; real agencies use .gov.ph domains.
A BSP note on complaints: never put your PIN, password, account or card numbers in a complaint form or email. BSP does not need them to process your complaint (BSP complaint guide).
A simple “pause and check” routine
- Pause. Give yourself a day before sending money for any offer.
- Verify. Check the company with the SEC or BSP Verifier, using the official sites.
- Ask a second person. A family member, a coworker or the official hotline. Scammers rely on you keeping it secret.
- Protect your accounts. Never share OTPs; use the official app only.
- Report. Even if you did not lose money, reporting helps protect others.
Being scammed is not a sign that you are foolish. These schemes are designed by people who do this full time. Staying calm, checking before paying, and reporting quickly are your best defenses.
This article is general information only and not financial advice. Rates, rules and fees change, so please verify with the provider or the official agency before deciding.