BW Resources, Dewey Dee, Royal Manchester, Legacy, FrancSwiss, G7 Bank, Multinational Telecom Investors Corp. (Multitel), MMG Holdings, Performance Investment Corp. (PIPC), Glasgow and Maria Theresa Santos Trading
There is a crisis of confidence in the Philippines! One that is brought about by numerous scams and financial industry failures that go on without corresponding penalties.
Share your thoughts and suggestions on why our Investment environment is conducive for scams and schemes in the Philippines. More importantly, what can we do to positively change our investment environment.
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2 comments:
One big reason is the lack of knowledge of most Filipinos when it comes to various financial products. For example, most Filipinos, including a good number of students taking business-related courses in many universities, are not familiar with the stock market. Two, as a people, we are, for the most part, a nation of employees. This is sad because we rely on foreigners to provide jobs. Most do not aspire, and therefore, do not gain adequate know-how and business skills to start and run a business. When it comes to investing, having those skills can help us know the difference between a legitimate venture from a scam.
i think that one of the primary reasons why Filipinos are easily scammed is because of the typical Filipino attitude. "oh, this is a great investment with big gains" they do not analyze the nature of the investment. another thing is they want easy and fast money. internet is an easy way for "scammers" to do their thing. accessibility, convenience and the mere fact that it helps them hide the true nature of their products from misleading advertisements is very very possible through the use of the internet.
wag tayo umasa sa mabilis na pera.
money is earned through hard work. and not through petty faux investments.
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