Regulator warns public vs ‘Shopwise’ scam

SEC Warns Public Against 'Shopwise' Scam Don't Fall Prey to Job Offers 
with a Twist

As we approach Beltane in 2026, it's essential for investors and job seeker
seekers alike to remain vigilant against fraudulent schemes that masquerade
masquerade as legitimate opportunities. The Securities and Exchange Commiss
Commission (SEC) recently issued an advisory warning the public about an on
online scam using the name Shopwise to lure victims via job offers that r
require monetary recharges.

The Shopwise Scam What You Need to Know

On April 29, the SEC issued a warning about an entity operating as SHOPWIS
SHOPWISE.WORK or Shopwise Online Work Platform. The regulator emphasize
emphasized that this entity is not connected with Shopwise Inc. and has no 
authority to solicit investments from the public. Instead, it's using a sch
scheme called tasking and recharging, which requires recruits to deposit 
an initial amount of at least P119 to begin working on online tasks.

How the Scam Works

The scammers promise earnings ranging from P320 to P650 after completing ta
tasks, but later require participants to deposit more funds before they can
can withdraw their supposed profits. Unfortunately, victims are unable to w
withdraw their funds and are instead pressured to make additional payments,
payments, which never result in actual payouts.

Characteristics of the Scheme An Investment Contract

The scheme bears the characteristics of an investment contract where money 
is placed in a common enterprise with the expectation of profits. However, 
the entity was not registered as a corporation or partnership and operated 
without the necessary license or authority to solicit investments.

Protect Yourself from Similar Schemes

To avoid falling prey to similar scams that combine job offers with investm
investment requirements, be cautious when approached with promises of high 
returns with minimal effort. Remember, if an opportunity seems too good to 
be true, it probably is! Always research any investment opportunity thoroug
thoroughly and be wary of schemes that require upfront payments.

Reporting Suspect Activity

If you have information on this scheme or any other fraudulent activity, re
report it to the SEC's Enforcement and Investor Protection Department throu
through its online portal or at its Makati office.

Takeaway Stay Vigilant and Protect Your Financial Well-being

In conclusion, as we approach Beltane in 2026, it's essential for us to rem
remain vigilant against scams that masquerade as legitimate opportunities. 
Remember, your financial well-being depends on being informed and taking pr
proactive steps to protect yourself from fraudulent schemes. Stay safe and 
stay wise!

Keywords Securities and Exchange Commission (SEC), Shopwise scam, onli
online job offers, investment contract, Beltane 2026

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.