Business

Public warned against scammers using BSP’s name

Some scammers are using the name of the Bangko Sentral ng Pilipinas to lure people into get-rich-quick schemes.

The central bank issued a fresh warning against Ponzi-type schemes which promise to double your investment.

Their claim to legitimacy is that they have a deposit account with the BSP, from which payouts are supposedly collected.

“Bangko Sentral ng Pilipinas Does not hold or secure deposits or investments from individuals, corporations, foundations, or non-profit organizations; does not transact with these individuals and entities at random; and does not issue or guarantee documents or certificates of money transfer, gold deposits, peso or dollar deposits, treasury or securities, instruments, or other commercial papers,” the monetary authority said in its website.

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