Palace warns vs 'too good to be true' scams

Posted at 11/19/2012 7:22 PM | Updated as of 11/20/2012 8:21 AM

MANILA, Philippines - The Palace on Monday reminded the public not to fall victim to investment scams.

Presidential spokesman Edwin Lacierda said the public should be suspicious of offers that are "too good to be true" and investments that have interest rates way above what the banks offer.

He urged those who were victimized by scams to give information to authorities.

"If it's too good to be true, that's something that you should consider suspicious," Lacierda said.

He said aside from looking into Aman Futures, the government is also investigating the so-called Rasuman scam.

"We are investigating all this, and we will ensure, at the very least, that we will make this a public information on scams. If it's too good to be true, then it's something that should be viewed with caution," he said.

He said Department of Trade and Industry local offices will be more vigilant "in averting another round of scams."