Metro Manila (CNN Philippines, October 6) — The Department of Migrant Workers (DMW) has created a task force against investment scams in hopes of curbing rising cases of fraud.
DMW officer-in-charge Undersecretary Hans Leo Cacdac said Thursday that the task force came after Senator Raffy Tulfo, who chairs the Senate migrant workers committee, raised the suggestion to protect overseas Filipino workers.
“Una, para magbigay ng impormasyon sa mga workers kung paano sila makakaiwas sa investment scams. Pangalawa, kung nabiktima na sila, saan sila tatakbo,” he said.
[Translation: First, to provide information to workers on how they can avoid investment scams. Second, if they have been victimized, who will they run to.]
Cacdac added that they have a planned partnership with the Securities and Exchange Commission (SEC) and the Department of Justice to boost efforts in addressing investment scams.
The DMW will sign a memorandum of agreement with the SEC on Oct. 11.
