PUBLIC WARNING ON THE OPERATIONS OF
PAYSMART LIMITED PHILIPPINES OR “PAYSMART”
The Philippine Embassy in Cambodia hereby informs the public that there is an existing investigation on PAYSMART LIMITED PHILIPPINES or “PAYSMART” for possible violation of the Securities Regulation Code of the Philippines.
Per existing records of the Philippine Securities and Exchange Commission (SEC), Paysmart is not registered as a corporation or partnership, and is not authorized to solicit investments from the public as it did not secure the prescribed registration and/or license to operate as such.
Paysmart is allegedly offering 30% return on investment (ROI) in just 15 days or 60% ROI in 60 days. The SEC warns that this company entices Overseas Filipino Workers (OFWs) from Israel, Dubai, and Norway, but may also target OFWs in other countries.
The public is advised to exercise diligence and caution before investing in any company in the Philippines by verifying with relevant government authorities such SEC or the Department of Trade and Industry.
Phnom Penh, 27 July 2018