DTI warns against Paysbook E-Commerce Systems

Consumers are forewarned from transacting with PAYSBOOK, a company allegedly soliciting investments from the public via social media and other online portals.

The Securities and Exchange Commission (SEC) clarifies that while PAYSBOOK is registered under PAYSBOOK E-COMMERCE SYSTEMS CO. LTD., and PAYSBOOK E-COMMERCE SYSTEMS CORPORATION, said companies did not secure a secondary license for soliciting investments.

The DTI further received reports that PAYSBOOK is claiming that it is legitimate by posting photos of people posing as police who earned money by being a “Paysbooker”. The Department will coordinate with the Philippine National Police (PNP) to alert them of this modus. Meanwhile, it had already requested the Department of Information and Communications Technology (DICT) and National Telecommunications Commission (NTC) to take down the online portals and social media accounts of PAYSBOOK.

Early this year, the SEC issued an updated advisory against PAYSBOOK to warn the consuming public from transacting with the said company. To report any incident related to PAYSBOOK or its affiliates, contact the SEC via telephone numbers, (02)818.6337 or (02)818.6047, or through DTI Consumer Care 1-384 (1-DTI).