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Panabo City investors warned against online scams

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DAVAO CITY—Investors in Panabo City, Davao del Norte, are being alerted to online scams and bogus online products.

The warning was issued during the Investment Awareness Forum held last week to comply with the national government directive to observe the second week of November as Investor Protection Week. The forum was part of initiatives to heighten awareness of the business community against fraud.

During the forum, Securities and Exchange Commission Counsel II Emee M. Villsenda talked about investor education and protection while Department of Trade and Industry Development Specialist Kristofer Chan discussed digital consumerism. Both warned about online selling and purchases to be meticulous and to inspect the quality of the products bought

“P.M [private message] is not the key. The online seller must put the price tag of the product,” Chan said

Marjorie P. Alo, president of the Panabo Banker’s Association and branch manager of RCBC-Panabo, also warned against being tricked online.

“Think before you click so that you won’t regret and your money won’t disappear. There are no successful scammers without the victim.”

Alo received several number of depositors lost a large sum of money because they clicked on some fraud messages.

Former President Rodrigo R. Duterte issued Proclamation 846 in November last year declaring every second week of November as Investor Protection Week.

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