Investment scams abound now, warns SEC

Published April 4, 2020, 12:00 AM

by manilabulletin_admin

By MB Online

The Securities and Exchange Commission (SEC) on Saturday warned the public against online investment scams which takes advantage of the current situation to dupe investors and consumers.

sec new logo2

In their advisories, the SEC said that it has identified at least 14 groups and individuals engaged in investment scams and other illegal activities.

The SEC advised the public to refrain from engaging in any transaction with MAGINVESTKA.ONLINE or MIK.O and Azenzo-Online.

MIK.O engages in trading Bitcoin for US dollars while Azenzo-Online, the SEC said, is enticing the public to give out donations and “withdrawal blessing” to dupe money from their victims.

These unscrupulous groups and individuals have shifted their focus to scamming people online as well.

The SEC advises the public to carefully examine and study supposed invitations and offers which promise an unbelievably quick return in investment, as they may be investment scams.