THE Department of Migrant Workers (DMW) yesterday warned overseas Filipino workers (OFWs) against the proliferation of a lending scam mainly targeting Pinoys abroad.
In a social media post, the DMW said OFWs must be vigilant against those offering emergency cash loans in exchange for a deposit fee.
“The public is being warned against falling for this modus, and is advised to report such activities,” said DMW.
Under the modus, unscrupulous individuals offer low-interest and quick-processing loans on social media.
Interested OFWs are then asked to provide their passport number and bank accounts, while they are included in a Telegram group with their accomplices as its supposed members.
But before the loan is deposited, the scammers ask their victims to provide a 20 percent safety deposit.
Once the deposit is made, they will show “proof” that the loan is ready to be withdrawn using a one-time password they will send to the victims.
Subsequently, the scammers will claim an error in the bank account provided and that the money is being withheld by the Bangko Sentral ng Pilipinas.
For the loan to be “released,” the scammers will require the victim to provide additional fees that are even higher than the amount supposedly deposited. “This is a scam. Do not be tricked by these scammers,” the DMW reiterated.
