The Securities and Exchange Commission-Cagayan de Oro Extension Office (SEC-CDO) is investigating several groups offering alleged illegal investment schemes in Northern Mindanao.

It can be recalled that several illegal investment schemes were found operating in Mindanao in previous years, where suspects promised victims of huge returns.

SEC said it is already monitoring several groups suspected of operating illegally, as of this writing. However, the agency did not disclose further details.

SEC-CDO director, Atty. Frederick Enopia, said unlike in previous years, authorities are now able to detect questionable activities early, which prevents these groups from amassing large memberships.

“Kasagaran dili pa kayo kay grabe vigilant naman gyud kayo ta. Naa mi makita nga bisan mao pa’y pagsugod amo na gina-investigate diretso then mahibal-an na dayun na ninyo kay mag-isyu na dayun imo og advisories. Dili na pareha sauna nga ayha rami pagpabutohay na ang isyu nga daghan na kayo og member,” Enopia said.

Enopia added that their monitoring of suspicious groups is now faster as more people are approaching the office to inquire about investment schemes.

SEC-CDO also continues to coordinate with other SEC offices in different regions, particularly since some illegal investment schemes that have reached the region reportedly originated there.

“Hopefully, sa public dili gyud diretso musulod anang pag-invite sa inyo kanang mga investment investment so before that kung pwede muadto mo sa SEC to verify or mag-question kung naa ba ni sila authority, licensed ba ni sila to get investment sa public,” Enopia said.

SEC clarified that engaging in foreign exchange trading or investment programs is not illegal. However, it becomes unlawful when individuals solicit investments or make promises of guaranteed returns without proper authorization.

“Pero kung ikaw nga individual nga nag-trade ka using a platform dili illegal kay ikaw raman wala man sab ka nang-invite. Ayha ra siya mahimong illegal kung nang-invite naka o naa kay gipasalig which is mu-fall na siya violation under sa investment solicitation,” Enopia added.