The Philippine Competition Commission (PCC) on Monday cautioned the public against acting on email claiming to be from the government body, asking for fees supposedly for customer transfer of international funds.
The PCC said that the fake document is presenting itself as a ruling issued by the commission.
“Please be informed that the PCC has not issued nor authorized the issuance of the purported decision,” it said in a statement.
A copy of the fraudulent document obtained by the Inquirer from the PCC shows it as a numbered issuance titled “Commission Decision No. 02-M-001/2024.”
“Your transaction has been carried out and is already in process. However, upon completion, it was discovered that your transfer has not been paid for,” read the opening paragraph of the document.
Commission
“The company mandates that all transfers for international transactions are to be paid for by their beneficiaries,” it added.
It went on to say that the payment is for the ICOT, explaining it as an abbreviation of “commission on turnover,” and that it is a charge levied on customer transfer of international funds.
It said that the charge is equivalent to P40,000, or 10.5 percent of the recipient’s total balance.
“Once the payment is confirmed, the ICOT code will be given to you by the bank to show that your international transaction has been approved by the International Banking Authority,” it read.
In light of the circulation of this fraudulent document, the PCC urged the public to be cautious of individuals or entities pretending to be PCC or using the name of its officials or personnel.
“The public is requested to immediately report similar activities to the PCC at queries@phcc.gov.ph or 87719-PCC,” the PCC said. INQ