CySEC Warns Public of Four Unauthorised Investment Firms
CySEC alerts investors about four unlicensed investment firms operating without authorisation under Cyprus law.
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401 Foreign Nationals Arrested in Pasay City POGO Raid
Abstract：401 foreign nationals were arrested in a Pasay City POGO raid for illicit activities, including scams. Authorities crack down on illegal offshore gaming operators.
401 foreign nationals were arrested in a Pasay City POGO raid for illicit activities, including scams. Authorities crack down on illegal offshore gaming operators.
MANILA, Philippines — Authorities arrested 401 foreign nationals in a major raid on a Philippine Offshore Gaming Operator (POGO) hub in Pasay City.
The Presidential Anti-Organized Crime Commission (PAOCC), in collaboration with the Philippine National Police (PNP), the Department of Justice (DOJ), and the local government unit, led the operation.
Breakdown of Arrested Foreign Nationals
- 207 Chinese nationals
- 132 Vietnamese nationals
- 24 Koreans
- 11 Malaysians
- 14 Indonesians
- 12 from Myanmar
- 1 from Madagascar
- 52 Filipino workers were also found on-site.
Evidence of Illicit Activities
The raid followed a mission order from the Pasay City Business Processing License Office after reports of a high number of foreign nationals at the site. The PNP CIDGs Anti-Organized Crime Division validated the information before the operation.
Authorities uncovered evidence of cryptocurrency scams, love scams, investment fraud, and spamming. The site contained:
- Text blasters
- One-time password generators
- Cold crypto wallets
The scammers primarily used Viber and Telegram for their fraudulent activities.
Government Crackdown on Illegal POGOs
The Pasay City Government immediately issued a Cease and Desist Order (CDO), shutting down the operation.
This raid is part of the governments nationwide crackdown on POGOs, which have been operating illegally since December 15, 2024, when all licenses were revoked. On October 15, 2024, foreign POGO workers were ordered to downgrade their special visas to tourist visas.
The government intensified its action following President Ferdinand Marcos Jr.'s announcement of a POGO ban in his third State of the Nation Address (SONA) in July 2024. The decision followed congressional inquiries exposing POGOs' involvement in illegal activities.
Authorities continue their efforts to dismantle illegal gaming operations in the country.
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