PNP urges public to report ‘paluwagan’ investment scams

The Philippine National Police (PNP) on Tuesday urged the public to report investment scams to the authorities and file appropriate complaints, following reports that some police personnel got involved in the illegal activity. 

“Inaasahan natin sana sa ganitong paraan, na meron talagang lumantad at mag-file ng complaint, ay mapigilan natin ang ganitong future incidents,” PNP spokesperson Colonel Bernard Banac said in an interview on Dobol B sa News TV on Tuesday.

Banac added the formal reports of investment scams will alert and bring awareness to the public of the illegal activity.

He revealed that victims easily fell prey because perpetrators used "paluwagan" as a front for the investment scam. He said that even police personnel were victimized by this type of investment scam.

“Sa ngayon, binibigyan na sila ng reprimand, warning na hindi dapat sila mabibiktima at maging more discerning,” Banac said.

Most of the victims of paluwagan investment scam were from rural areas where people are less suspicious compare to the people in city areas who are more aware of criminality, he added.

Banac said only few were punished for investment scam because commonly victims agreed for settlement. However, Banac warned, perpetrators usually do not keep the agreement of returning the money to victims and go into hiding. — MDM, GMA News