The Securities and Exchange Commission (SEC) has alerted the public regarding a fraudulent online platform illegally using the branding of the well-known supermarket chain, Shopwise. According to an official advisory from the commission, the entity—operating under the name “Shopwise” or “Shopwise Investment”—is not authorized to solicit investments from the public.
The commission discovered that the scammers entice victims through social media, promising high returns or “passive income” through tasks such as liking products or placing fake orders to boost merchant ratings. To participate, users are often required to register on a website or mobile app and deposit funds into a digital wallet, with the promise that their money will grow significantly in a short period.
The SEC clarified that this entity has no affiliation with Robinsons Retail Holdings, Inc., the legitimate owner and operator of the Shopwise brand. Furthermore, the fraudulent group lacks the necessary primary registration and secondary licenses required to offer or sell securities to the public, as mandated by the Securities Regulation Code.
Individuals acting as promoters, recruiters, or influencers for this unauthorized scheme could face criminal charges, including stiff fines or imprisonment. The commission urged the public to exercise extreme caution and to stop investing in any platform that promises “guaranteed” profits with little to no risk.
The SEC continues to monitor online spaces for similar “task-based” investment scams that target Filipinos looking for additional income. Citizens are encouraged to report suspicious investment activities to the SEC’s Enforcement and Investor Protection Department to prevent further financial losses.
