(Picture) Protecting your Financial Investments in the Philippines
- Study carefully the "financial product" being offered to you. Understand thoroughly the terms and conditions printed in the document. Don't accept or buy "financial product(s)" that you do not understand especially if it is known as "good-to-be-true" and you find difficulty understanding the terms and conditions.
- If the offer is so "enticing", very high in return of investment (ROI) or in short "good-to-be-true", chances are it will never happen or the financial product will fail. Avoid the so-called "pyramiding", including those businesses or financial products being sold in the internet, that convince you to recruit more "investors" in order to earn more. (There are many cases that some Network Marketing Companies (MLM) are involve in "pyramiding")
- Be sure to know if the "investment product" is registered in the Securities and Exchange Commission (SEC), including those "investments products" being sold in the internet. If the "financial product" is an "insurance", it should have a Permit from the Insurance Commission (IC). A company having a "Certificate of Incorporation" from the SEC doesn't mean that the said company have a permission to sell a certain "investment product".
- Know carefully the company and the people who run this company who offer the "financial products". The "investment products" that came from the banks should have a permit from the "Bangko Sentral ng Pilipinas" (BSP).
- Transact only to the agents or brokers who are licensed by SEC. If the "investment product" is from a bank, transact only to employees who are authorized in that bank.
- "Investment products" are not insured by the Philippine Deposit Insurance Corporation (PDIC).
- Keep the proofs of your "financial investments" such as receipt, contract, agreement or certificates and other related documents in a very secure place.