THE Bureau of Immigration (BI) warned that a new scam involving cryptocurrency investments is targeting Filipino migrants in the United States after trafficking victims recently repatriated to Myanmar, revealed details of the scheme.
BI Commissioner Joel Anthony M. Viado, in a statement on Wednesday, said the fraud involved scammers luring overseas Filipinos into bogus cryptocurrency investments with promises of high returns and minimal risk.
Victims were often contacted through social media and persuaded to transfer funds into fake trading platforms.
The scammers manipulated account balances to show false profits, convincing victims to invest further before eventually disappearing with the money.
The revelation followed the March 26 repatriation of multiple trafficking victims, including an individual known as “Jon Jon.”
Initially believed to be a victim, he was later identified by fellow repatriates as the recruiter who facilitated the illegal transport of Filipinos to Myanmar, where they were forced into scam operations.
Witnesses claimed that “Jon Jon” played a key role in developing the new fraud model specifically targeting Filipino-Americans.
“We wish to send this warning to our countrymen abroad not to fall prey to this new modus,” said Mr. Viado. “The IACAT (inter-agency council against trafficking) is working to ensure that those who continue to victimize Filipinos face the harshest penalties of the law.” — Chloe Mari A. Hufana
