IT’S TWENTY AND TWENTY-THREE, and yet many Filipinos still fall prey to various forms of scams and fraud. Everybody seems to know what a scam is, but it takes one victim before believing it really is.
As can be read in another article here, many still underestimate the gravity of filing formal reports to the proper authorities.
Others seem contented, or maybe in an ignorant and mindless resolve, are simply sharing their plights and complaints through social media. Yes, it helps, but not really.
While that is the case, this article but provides ten common reasons why many still get scammed amidst all campaigns and joint efforts of the government authorities and the public.
 Widespread Easy-Money Schemes. What else can be blamed for the widespread easy-money schemes but the high poverty rate in the country.
Hoping, if not totally desperate, to improve the standards of living, more and more Filipinos venture into these unexamined schemes and unfortunately, end up getting scammed.
 Irresistible Offers. Filipinos have the remarkable enterprising nature, and this gives birth to a plethora of creative business ideas, even fraudulent activities that exploit the weaknesses of the people for financial gain.
Scammers scratch their victims’ backs and employ the so-called ‘enforced indebtedness‘ until such time that they sign up for such seemingly irresistible offers.
 Fear of Missing Out. Aside from being quite materialistic, many but dive into the trends and hypes without prior understanding of the real costs and risks.
Most scams first lurk in the shadows of once-in-a-lifetime business and investment opportunities before finally brought to light.
 Impulsive Decision Making. Many do not have the concept of delayed gratification. As long as there’s something sensed good about it, it’s instantly grabbed and there’s no room for other what-if thoughts.
Spontaneity can be good, but not when it comes to making decisions that involve money.
 Turning a Blind Eye to the Obvious Fraud. After testing the waters amidst all initial doubts, still other people keep themselves in denial and even turn a blind eye to such obvious risks and further losses. Worst, others are even dragged to suffer the same loser’s fate.
 Corruption Everywhere. Many Filipinos seem to have accepted that fact that corruption is already part of the culture, and it can be like an option if one is desperate enough to have the shortcuts. While others expect a big help, scammers take advantage of it.
 Informal Channels and Transactions. Many Filipinos still shy away from the more formal and more secure transaction channels, thinking that alternative ones could give them bigger discounts and faster processing.
It’s the same reason many prefer to avail products and services through referrals and offers that are too good to be true.
 Culture of Sharing Everything. People share even the most sensitive information here and there, the sense of familiarity being taken to the vast digital space.
In the events of data breach and phishing, scammers find opportunities, and many are put to the test of digital literacy and vulnerability.
 Lack of Media and Information Literacy. Still many people, not only Filipinos, underestimate the danger that the internet poses, particularly to those who do financial transactions online.
Scammers and criminals have taken their fraudulent activities to the digital world, and nobody knows who would be the next to fall victims.
 Lack of Financial Literacy. Most, if not all, of the ‘investment instruments‘ that promise incredibly high returns in a short period of time should be flagged red, and many still don’t get it.
As far as financial literacy is concerned, ‘quick money’ and ‘big returns’ always come with big question marks.
6 Common Credit Card Scams in the Philippines [Facebook Stories]. This short article lists and describes six of the most common credit card scams in the Philippines these days such as the card upgrade scams, annual fee membership waiver scams, and sim swap scams.
How to Report Scams in the Philippines. This article emphasizes the gravity and need to report scams and fraud to the authorities and provides hotlines and contact details of various government agencies such as the NBI, PNP, Insurance Commission, and Securities and Exchange Commission (SEC), among others.