MANILA, Philippines — Victims of financial fraud need to exercise extra caution when dealing with individuals or organizations that claim to offer assistance.
The Securities and Exchange Commission (SEC) has issued a warning regarding the rise of “recovery” and “advance-fee recovery” schemes. These scams target victims a second time, exploiting their desire to recover lost funds.
The corporate watchdog emphasized the importance of vigilance to avoid falling prey to such fraudulent offers, which have been proliferating recently.
https://business.inquirer.net/550609/sec-warns-vs-fund-recovery-scams