DICT probes alleged investment scam

CEBU CITY — The Department of Information and Communications Technology in Central Visayas (DICT-7) confirmed that its central office has initiated a probe into an alleged investment scam exposed by a viral video, which was uploaded on social media by a content creator who admitted to hacking the operation.

DICT-7 director Frederick Amores said that while their regional office is aware of the incident, the investigation is primarily the responsibility of the Cybercrime Investigation Coordination Center (CICC), an attached agency under the DICT Central Office based in Manila.

Amores said that investigations of this nature typically fall under the jurisdiction of the CICC. He noted that the region is fortunate to have a CICC representative present to assist in the matter.

The DICT-7 office is currently awaiting the official report from its central office, where a specialized unit is tasked with handling cybercrime and digital fraud cases.

The video in question allegedly showed an operation that offered a highly unrealistic 30-percent return on investment per week.

Amores considered such a promise a clear red flag and pointed out that many Filipinos fall for such schemes out of desperation, hoping the offer might be genuine.

He also underscored the limits of DICT's authority, stating that the agency does not possess police powers or the necessary technology at the regional level to carry out deep cyber investigations.

Regarding the content creator who exposed the operation, Amores said the YouTuber admitted to hacking the company, which is an illegal act unless done under authorized conditions such as white-hat hacking.

Since the individual was not authorized by law, there could be legal consequences.

However, Amores noted that the YouTuber's current whereabouts remain unknown, and that DICT-7 has not received any communication from the content creator.

Amores also addressed growing concerns over Cebu's reputation as a possible hub for scams, particularly given the presence of numerous business process outsourcing (BPO) companies in the province.

He said that while the BPO industry is thriving in Cebu, there may be operators masquerading as legitimate companies despite lacking the proper licenses.

Amores urged the BPO sector to help monitor its ranks and report suspicious operations to the appropriate authorities.

He also invited the public to bring any evidence to DICT-7 or to the CICC representative in the region.

DICT is also working with local government units to raise awareness about online investment scams and cyber fraud.

Amores, meanwhile, emphasized the importance of public education and critical thinking to help individuals avoid falling prey to scams.

He reiterated that if an offer seems too good to be true, it likely is.