DTI: Beware of online ‘paluwagan’
WATCH out for another scam in the making – Online Paluwagan!
The Department of Trade and Industry (DTI) issued the warning amid increasing incidence of pyramiding scam victimizing investors lured into “get-rich-quick” schemes.
DTI-Pangasinan’s Guillermo Avelino Jr., senior trade and industry development specialist, tagged “Online Paluwagan” as another form of investment scam during the Pantongtongan Tayo radio program of Philippine Information Agency-Pangasinan last week.
Pinoy Scam Detector website describes the online paluwagan as following the structure of the Ponzi scheme or pyramid where one recruits a down line and completes the board to have an exit cash. (VHS/AMM/PIA-1, Pangasinan)
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