SEC, TikTok launch anti-scam drive – BusinessWorld Online
SECURITIES and Exchange Commission (SEC) Commissioner Rogelio V. Quevedo urged Filipinos to be cautious of scams, warning that “if you did not join anything, do not expect that out of the blue, you would have won something.”
Speaking at a memorandum of understanding ceremony on Tuesday, he stressed that scammers exploit people’s hopes for miracles or unexpected windfalls, leading them to send money repeatedly or take on debt.
Under the partnership, SEC and TikTok will produce #ThinkTwice videos to teach users how to spot scams, verify sources and protect their finances. The first video will explain Ponzi schemes, showing how scammers promise guaranteed returns and manipulate language to deceive victims.
Yves Gonzalez, TikTok head of public policy for the Philippines, said the platform prioritizes user safety and is committed to expanding the campaign as new threats emerge. The videos will appear on TikTok and the SEC’s social media channels. — Alexandria Grace C. Magno