PNP CYBERCRIME ARRESTED 8 Israelis, 482 Pinoys over online stock trading scam - PHILIPPINE REPUBLIC NEWS

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Thursday, June 7, 2018

PNP CYBERCRIME ARRESTED 8 Israelis, 482 Pinoys over online stock trading scam





The Philippine National Police Anti-Cybercrime Group has arrested eight Israelis and 482 Filipinos composed of 232 male and 242 female in a simultaneous operations in three departments of International Brandings Development Marketing, Inc. (IBD). This




multi-million dollar online stock trading scam has a call center setting defrauding victims for around two and half years.

PNP-ACG head Chief Superintendent Marni Marcos Jr. said "Their modus operandi is like a stock trading scam, meaning they invite investors through online. So again after that they will get details of your bank accounts, credit cards."

Most of their clients are coming from western countries. During the Operations, the Filipinos were caught having transactions with "clients". They will be facing charges under violation of Sections 4 (a)(5) and 5(a) of the Republic Act No. 10175 or the "Cybercrime Prevention Act of 2012” and charges in relation to Article 315 (Syndicated Estafa) of the Revised Penal Code.

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