Many Filipinos have fallen prey to investment scams. In 2019, the country was rocked by the KAPA and RIGEN Ponzi schemes. Also, both were founded in Mindanao, where Aman Futures also wreaked havoc in 2012. Ponzi and pyramid schemes have a long history and will likely never cease to pop up. In fact, the Securities and Exchange Commission published in May 2020 a warning about more scams amid the pandemic. Also, it has a checklist to help the public spot them as well. To learn more about investment scams in the Philippines – how they work and the red flags, check out these YouTube channels. You can also suggest featuring dubious financial schemes to them.
1. Invested Lifestyle Exposes Investment Scams In The Philippines
Elaine Linga, the YouTuber behind Invested Lifestyle, is based in Los Angeles, California but talks about investment scams in the Philippines, among other things, such as financial literacy. She aims to build a community that helps the vulnerable and raises awareness against too-good-to-be-true schemes.
Recently, the YouTube channel has been receiving requests to feature multilevel marketing (MLM) and scams. Most of its recent posts are about Zafire, an MLM in the Philippines that targets students as young as 15 years old.
2. Neil Yanto YouTube Channel
An Internet Marketing vlogger, Neil Yanto, posts videos that review companies, applications, social media platforms, and other business activities. Some of these vlogs discuss if they’re legitimate or not. Therefore, helping Filipinos avoid investment scams.
He also provides information on a company like its background, how to join it, how to earn, and pros and cons. Yanto concludes with his opinion and lets his viewers decide if they should join a company. His YouTube channel’s topics include Empowered Consumerism, Photojingle, and PayMath, to name but a few.
As their YouTube channel’s name suggests, PinoyMoneysTV publishes finances-related videos. Their discussions include how to make money, online loans, and reviews of earning apps and websites, as well as scams.
They draw from their own experiences, which sharpen their instinct for high-yield investment programs. For example, PinoyMoneysTV featured IXTrade on April 6, 2021. PinoyMoneysTV stated they’re 101% sure it was a pyramid scheme. Then, IXTrade suddenly went offline. As a result, people finally realized it was indeed an investment scam.
These YouTube channels are committed to providing content that will help educate Filipinos on identifying investment scams. Fraudulent schemes may come in different names and platforms, but they rarely change strategies.