Embassy warns of scam targeting Filipino expats in UAE
The Philippine Embassy in the UAE advised Filipino expats to exercise caution after the country’s Securities and Exchanges Commission (SEC) warned against a company that that dupes Filipinos into making fast cash through investments. According to local news reports, the SEC found that the firm Paysmart Limited Philippines was not a registered corporation. The commission received information that individuals representing the company are offering offshore investments as a source of fast cash. “The above-mentioned entity did not secure prior registration and/or license to solicit investment from the commission as prescribed…
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