PIFA is an association of mutual fund companies in the country with 70 member-funds being managed by 10 asset management companies.
In an advisory, the SEC warned the public against investing in the investment scheme offered by the fake PIFA Facebook account.
The SEC said the fake account is not in any way related or connected to the legitimate PIFA.
According to the commission, the public is being enticed by the fake PIFA account to invest P1,000 to P50,000 for a guaranteed profit ranging from 250 percent to 340 percent for only four days.
This story is from the September 15, 2024 edition of The Philippine Star.
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This story is from the September 15, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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