The Securities and Exchange Commission (SEC) has issued a public warning against an online platform allegedly using the Shopwise brand to run an unauthorized investment operation disguised as an employment opportunity.
In an advisory, the commission identified the entities “SHOPWISE.WORK” and “SHOPWISE ONLINE WORK PLATFORM,” saying the groups had been falsely presenting themselves as connected to Shopwise Inc.
The SEC said the entities were not registered with the commission and had not secured the required license or authority to solicit investments from the public.
An investigation showed that the platform operated through what regulators described as a “tasking and recharging” scheme, where participants were instructed to deposit money before completing online assignments.
The commission said recruits were initially drawn in with small entry amounts starting at Php 119 and were promised returns of Php 320 to Php 650 after performing tasks such as “grabbing orders.”
However, the SEC said the setup only created the impression of legitimate online work, as participants were later asked to put in additional funds before being allowed to withdraw supposed earnings.
The regulator also identified warning signs commonly linked to similar schemes, including unsolicited job offers on social media, promises of easy income, and invitations to continue transactions through messaging applications such as Viber, WhatsApp, and Telegram.
The commission said these arrangements may fall under investment contracts covered by securities laws and urged the public to avoid the platform and similar operations offering unrealistic returns.