#SEC scams

The Securities and Exchange Commission (SEC) is warning the public on unauthorized investments surrounding cryptocurrency trading and online selling - specifically noting Forsage, RCashOnline, and the Saint John of Jerusalem Knights of Malta Foundation of the Philippines, Inc. The SEC is also warning those that act as salesmen, brokers, dealers, or agents of the entities above that they are violating the Republic Act No. 8799, or The Securities Regulation Code, among others. Additionally, the Bayanihan to Heal As One Act also punishes those that make use or take advantage of the current crisis to prey on the public through scams, phishing, fraud, or other similar acts. The SEC states that Forsage does not have the necessary licenses to sell or offer investment contracts to the public. The people that manage RCashOnline are the same group operating OnlineBiz and ELITE Entrep Blue Print, which have also been subjects of previous SEC advisories. The SEC has revoked this group's certificate of registration since February 2003 for noncompliance with its reportorial requirements. The Securities and Exchange Commission (SEC) and the Philippine National Police (PNP) have formally joined forces to shield the investing public from a rising wave of digital financial crimes and deceptive online schemes across Central Luzon. Read more in our articles including "SEC warns against Forsage, RCashOnline and The Saint John of Jerusalem Knights of Malta Foundation of the Philippines, Inc." and "SEC and PNP sign joint agreement to fight against online investment scams".