DepEd warns teachers vs car loan scam

The Department of Education warned the public against a deceptive scheme that targets public school teachers.

The DepEd said at least 29 cases were filed against the perpetrators of the alleged car loan scheme that originated in Pampanga.

"The scheme involves enticing teachers with financial difficulties to apply for a car loan in exchange for a certain amount of cash, including the down payment for the unit, and a promise of passive income in a transport network vehicle service as incentives if the loan is approved. Unknown to the victims, the perpetrators have connections to some car dealerships and bank employees who will facilitate a pre-arranged loan approval," the DepEd said in a statement issued on Friday.

"These perpetrators will then abandon their victims once mortgaged cars are turned over to them, giving the teachers more financial woes," it added.

The DepEd said it has already coordinated with the authorities to arrest those behind this fraudulent activity.

The agency also said it will conduct debriefing, counseling, and psychological first aid to the teachers victimized by this scheme.

The DepEd also reminded teachers and non-teaching personnel to remain vigilant against financial scams.