The Department of Migrant Workers (DMW) has issued a strong warning to overseas Filipino workers (OFWs) to remain vigilant against a surge of online loan scams, especially on social media platforms like Facebook.
In a public advisory posted Wednesday, the DMW—working in coordination with the Securities and Exchange Commission (SEC)—alerted OFWs to be cautious of bogus lending schemes disguised as quick loan offers.
“Mga OFWs, mag-ingat sa mga pekeng pautang sa Facebook! Nanghihingi ng bayad bago magpautang? Scam ‘yan!” the department said.
These fraudulent schemes typically involve fake financing companies promising instant loans but requiring upfront payments. Once victims pay, the scammers vanish without releasing any funds.
The DMW emphasized that legitimate lending institutions never ask for fees before disbursing loans.
To verify financial entities, the SEC urges the public to use its SEC Check App, which is available for download online.
Migrant Workers Secretary Hans Leo Cacdac assured that the department is doubling down on efforts to protect OFWs from scams and safeguard their welfare, in line with the directive of President Ferdinand R. Marcos Jr.
