Financial scammers behind bars

Four Chinese nationals and 16 Filipinos were arrested recently by agents from the National Bureau of Investigation (NBI) on suspicion of operating a cryptocurrency scamming hub in Pasay City.

NBI director Jaime Santiago said the arrests followed a tip from a confidential informant who had been hired as a customer service representative. The informant reported fraudulent activities targeting victims in Asia, Europe and other regions.

The scam involved luring potential investors into a fake cryptocurrency trading platform using messaging applications.

The NBI’s Technical Intelligence Division and Digital Forensic Laboratory Division secured and executed two search warrants for a condominium in Pasay City.

During the raid, agents seized computers, laptops, cellphones and text blasters allegedly used in the scam.

The 20 suspects face multiple charges, including violations of the Anti-Financial Account Scamming Act, the Anti-Illegal Numbers Games law and the Cybercrime Prevention Act of 2012.

They were presented for inquest before the Pasay City Prosecutor’s Office.