BAGUIO CITY — The Securities and Exchange Commission's Enforcement and Investor Protection Department warned the public on Thursday to be cautious on the benefit promises of the Bagong Bansa Maharlika International Inc.

This comes after the SEC received information that the group is allegedly offering food security, free education, free hospitalization and also cash assistance for senior citizens and that the benefits will be enjoyed by members once they confirm their membership after paying P100 for registration fee.

The fee is said to be for the processing of their identification cards.

SEC disclosed that the BBMII was registered with the office in March 2022 and the group allegedly has a mission to uplift the lives of its members by assisting them in securing financial benefits.

However, it warned the public that the registration of BBMII with the commission is purposely to be able to operate as a legitimate organization as it stressed that BBMII does not have license to function as a Social Welfare Development Authority from the Department of Social Welfare and Development.