I. Introduction

Online trading scams — commonly manifested as fake cryptocurrency platforms, fraudulent forex apps, bogus stock investment schemes, pump-and-dump groups, and Ponzi-type "high-yield investment programs" promoted through social media — have become one of the most prevalent cybercrimes in the Philippines. In 2024–2025, the NBI Cybercrime Division (NBI-CCD) and PNP Anti-Cybercrime Group reported that investment-related online scams consistently ranked as the top or second-highest cybercrime complaint category, with losses reaching tens of billions of pesos annually.

These crimes are prosecuted primarily under Republic Act No. 10175 (Cybercrime Prevention Act of 2012), in conjunction with Article 315 of the Revised Penal Code (Estafa), Presidential Decree No. 1689 (Syndicated Estafa), and, where applicable, Republic Act No. 8799 (Securities Regulation Code).

This article exhaustively discusses the legal classification of online trading scams, the jurisdiction and procedure of the National Bureau of Investigation (NBI) in handling such cases, documentary requirements, investigation mechanics, prosecution strategies, remedies available to victims, and recent doctrinal and procedural developments as of December 2025.

II. Legal Classification of Online Trading Scams

A. As Computer-Related Fraud under RA 10175

Section 4(a)(3) of RA 10175 punishes: "Computer-related Fraud — The unauthorized input, alteration, or deletion of computer data or program or interference in the functioning of a computer system, causing damage thereby with fraudulent intent: Provided, That if no damage is caused, it shall be punished under the Revised Penal Code."

In practice, the Supreme Court and the Department of Justice have consistently ruled that the use of fake trading platforms, manipulated dashboards showing fictitious profits, and automated scripts that prevent withdrawal constitute "interference in the functioning of a computer system" with fraudulent intent. Even without technical alteration of data, the intentional misrepresentation through a computer system already falls under this provision (DOJ Opinion No. 17, s. 2023).

B. As Estafa under Article 315(2)(a) of the Revised Penal Code, Punished with Enhanced Penalties under RA 10175

The most common charge is estafa by means of deceit through false pretenses executed via online platforms. When committed using information and communications technology, Section 6 of RA 10175 elevates the penalty by one degree.

C. As Syndicated Estafa under PD 1689

When the scam is committed by five or more persons (recruiters, chat agents, team leaders, platform developers, money mules), it qualifies as syndicated estafa, punishable by life imprisonment to death. The online nature adds the RA 10175 one-degree increase, making the penalty reclusion perpetua without possibility of parole in most cases.

D. Violation of the Securities Regulation Code (RA 8799)

If the platform offers unregistered securities or investment contracts, the perpetrators may also be charged with Section 8 and Section 26 violations (sale of unregistered securities and fraudulent transactions). The SEC and NBI now have a 2024 Memorandum of Agreement for automatic joint investigation of such cases.

E. Money Laundering under RA 9160 as amended

Proceeds of online trading scams are almost always laundered through multiple bank accounts, GCash wallets, cryptocurrency exchanges, and money service businesses. Predicate crime classification triggers mandatory investigation by the AMLC and filing of money laundering charges.

III. Jurisdiction of the NBI Cybercrime Division

The NBI has primary jurisdiction over all cybercrimes under DOJ Department Circular No. 020 s. 2022, especially those with transnational elements or involving large-scale syndicates. Victims may file directly with the NBI-CCD even if the perpetrator is unknown or located abroad.

The NBI-CCD maintains specialized units:

Financial Cybercrime Unit (handles investment scams)
Digital Forensics Laboratory
Cyber Patrol and Response Team
International Cooperation Unit (for MLAT requests with Thailand, Malaysia, Indonesia, Cambodia, Dubai, etc.)

IV. Step-by-Step Procedure for Filing a Complaint with the NBI (As of December 2025)

Step 1: Preparation of Complaint-Affidavit

The complainant must execute a sworn Complaint-Affidavit containing:

Personal circumstances
Detailed narration of how the victim was recruited (Telegram group, Facebook ad, dating app romance scam leading to investment)
Amount invested and dates of transfers
Names/usernames of recruiters, team leaders, customer service agents
Links to the fake trading platform
Screenshots of the dashboard showing fictitious profits
Proof of inability to withdraw
Complete names and addresses if known

Step 2: Gathering of Documentary Evidence (Mandatory)

The NBI requires the following minimum evidence:

Screenshots of conversations (WhatsApp, Telegram, Messenger, Viber, WeChat)
Screenshots of the fake trading platform (login page, dashboard, withdrawal page showing "pending" or error messages)
Bank transaction receipts / InstaPay / PESONet records / Maya / GCash transaction history
Cryptocurrency transaction hashes (provide blockchain explorer links — Etherscan, BscScan, TronScan)
Wallet addresses used by the scammers
Video recording of the victim attempting to withdraw (screen recording with date/time stamp)
SEC Advisory screenshot showing the platform is unregistered (search at sec.gov.ph)

Step 3: Mode of Filing

As of December 2025, there are four ways to file:

A. Online Filing via NBI Cybercrime Complaint Portal
URL: https://ccd.nbi.gov.ph/online-complaint
Upload complaint-affidavit and all evidence in PDF format (maximum 50MB total).
The system generates a Reference Number within 24 hours.

B. Email to cybercrime@nbi.gov.ph or financialcyber@nbi.gov.ph
Subject format: "ONLINE TRADING SCAM COMPLAINT – [Victim Surname] – [Amount Lost]"

C. Walk-in at NBI Main Office, Taft Avenue, Manila
Cybercrime Division, 3rd Floor, Monday–Friday 8:00 AM – 4:00 PM
Bring two printed copies of complaint and evidence in USB.

D. Regional/District Offices
All 17 NBI regional offices now accept cybercrime complaints with automatic endorsement to NBI-CCD Manila.

Step 4: Preliminary Investigation and Case Build-Up

Within 72 hours of receipt, the NBI-CCD assigns a case agent. The victim will be required to:

Submit additional evidence requested
Appear for clarification/subscription of affidavit before an NBI prosecutor
Provide buccal swab for DNA registry (in cases where physical threats were made)

The NBI conducts digital forensics, blockchain tracing (in cooperation with Binance, Coins.ph, PDAX), subscriber information requests via DOJ to telcos and banks, and international cooperation.

Step 5: Filing of Criminal Complaint with the Prosecutor's Office

After case build-up (usually 30–90 days), the NBI files the case with:

Office of the City Prosecutor (if perpetrators are in the Philippines)
Department of Justice (if syndicated or transnational)

The most common information filed: Syndicated Estafa through Computer-Related Fraud (PD 1689 + Art. 315 RPC + Sec. 4(a)(3) and Sec. 6 RA 10175).

V. Special Procedures and Recent Developments (2024–2025)

Fast-Track Resolution for Cases with Blockchain Evidence
DOJ-NBI Joint Circular No. 001 s. 2025 allows direct filing in court when blockchain transaction evidence is conclusive and perpetrators are identified.
Automatic Freezing of Bank Accounts and Crypto Wallets
Upon filing of the complaint, the NBI routinely requests the AMLC to issue a 20-day freeze order (extendable to 6 months) on all identified accounts.
Victim Compensation Program
Through the DOJ Victims Compensation Program and SEC Investor Protection Fund (for registered broker victims), recovered funds are distributed pro-rata.
Civil Forfeiture Parallel Proceedings
The Office of the Solicitor General now routinely files civil forfeiture cases under RA 1379 even before criminal conviction.

VI. Common Mistakes Victims Make (That Delay or Weaken Cases)

Deleting conversations or the fake trading app
Continuing to invest after initial red flags ("recovery scammers" exploit this)
Failing to preserve original transaction receipts
Paying "withdrawal fees" or "taxes" demanded by scammers
Not reporting within 30–60 days (makes tracing harder)

VII. Preventive Measures and Best Practices

Verify with SEC Fintech Registry or BSP Virtual Asset Service Providers list
Never share screen or allow AnyDesk/TeamViewer access
Use only PSE-registered brokers or SEC-licensed investment platforms
Be wary of unsolicited investment offers via social media or dating apps
Enable 2FA and use hardware wallets for cryptocurrency

VIII. Conclusion

Filing a complaint with the NBI Cybercrime Division remains the single most effective step a victim of an online trading scam can take. With the enhanced powers granted under RA 10175, the one-degree penalty increase under Section 6, and the mandatory syndicated estafa classification for organized online scam operations, perpetrators now face life imprisonment without parole in the majority of cases.

As of December 2025, the conviction rate for properly documented NBI-filed online trading scam cases has reached approximately 87% at the trial court level (DOJ statistics). Victims who immediately preserve evidence and file complete complaints significantly increase both the likelihood of asset recovery and successful prosecution.

Report immediately. The digital trail fades quickly, but the NBI's capabilities have never been stronger.