Pinoys warned vs pyramiding scam in Kuwait

ABS-CBN News

Posted at Mar 13 2015 03:16 PM | Updated as of Mar 13 2015 11:16 PM

MANILA – Filipinos in Kuwait are urged to exercise caution first before investing their hard-earned money in any business.

The Department of Foreign Affairs said the Philippine embassy received reports that an alleged pyramiding scam is proliferating in Kuwait.

"The Philippine embassy in Kuwait has issued an advisory to the Filipino community, recommending that they first conduct the necessary research and verification on the legality of any entity before investing their hard-earned money in dubious schemes," the DFA said.

The scam is targeting Filipinos in Kuwait and operated by unscrupulous individuals both in the Philippines and Kuwait.

The DFA urged Pinoys in Kuwait to "undertake prior verification with concerned Philippine government agencies regarding the registration and the legality of transactions of these entities," the DFA said.