THE Securities and Exchange Commission (SEC) has flagged online job offer scams that use the “tasking and recharging scheme.”
In a statement, the securities market regulator said the public, especially job hunters, should remain cautious of the scheme where scammers would contact their victims through messaging platforms, such as Viber, Messenger and Telegram and offer them trivial tasks like ordering or purchasing items, sorting orders, and clicking tasks, among others, for a supposed e-commerce platform.
“However, the victims are required to deposit minimal amounts to access a dubious e-commerce platform that assigns paid tasks. Subsequently, the victims are enticed to deposit more money in escalating amounts to get higher-paying tasks,” the SEC said.
“For example, an individual will be asked to deposit P500 for paid tasks worth P1,000, as part of the initial offer. After completing the job and receiving payment, the promoter will offer the victim higher-paying tasks amounting to P10,000, but he must deposit P5,000 to access the new workload,” it added.
The SEC said small deposits are initially paid the promised returns “to dupe or fool the public into believing in the legitimacy and pour in more money in the platform.”
“The cycle continues until the deposited amount balloons. Amounts vary depending on the scam’s mechanics. Once the investors are hooked and have deposited big amounts, the platforms and their operators require victims to deposit more money in order to withdraw their supposed earnings for various reasons and eventually disappear,” it said.
The SEC stated that its Enforcement and Investor Protection Department (EIPD) has observed an alarming number of these scams and is advising the public to report or lodge complaints with the EIPD immediately.
