The Securities and Exchange Commission (SEC) has launched a wider effort to stop fraudulent investment schemes by working closely with law enforcement, national agencies, and local government units under its new ASTIG (Anti-Scam and Illegal Taking of Investments Group) network.
The SEC convened the first ASTIG Partners Meeting recently to set joint plans and align resources for educating the public, especially in communities where scams often go unchecked.
“The first ASTIG Partners Meeting represents a significant step forward in this effort, with government agencies, law enforcement, and other partners united in their resolve to protect the public from financial fraud,” said SEC Chair Emilio Aquino.
Grassroots protection
The SEC stressed that curbing scams will require work at the community level. ASTIG plans to train barangay officials and other local leaders on how to identify fake investment offers, respond to early signs of fraud, and educate residents using simple, easy-to-share materials.
ASTIG is part of the SEC’s Communication, Advocacy, and Network (SEC CAN!) initiative, which focuses on public education and proactive engagement with key sectors.
Agencies that joined the meeting include the Department of the Interior and Local Government, Department of Migrant Workers, Bangko Sentral ng Pilipinas, Department of Trade and Industry, and the Philippine National Police.
Unified game plan
The meeting produced a joint commitment to create a nationwide anti-scam action plan focused on community education, faster coordination across agencies, and tougher enforcement strategies.
The action plan will include public workshops, localized training, and the use of digital and print channels to reach vulnerable groups such as senior citizens, small business owners, and overseas Filipino workers.
“Moving forward, stakeholders will continue to work together to strengthen and expand the nation’s anti-scam campaign, ensuring a safer and more secure financial environment for all Filipinos,” Aquino said.
Get the latest before it trends. Follow Back End News on LinkedIn, Facebook, X, YouTube, and TikTok for updates and in-depth coverage across the tech and security landscape.