How to File a Complaint Against Online Investment Scams in the Philippines (A comprehensive Philippine-specific legal guide – updated July 2025)

Executive Summary

Online investment scams—from crypto “doublers” and forex robots to pyramid-style “subscription” platforms—have proliferated in the Philippines. Victims have several overlapping remedies under Philippine law: administrative (with the Securities and Exchange Commission), criminal (estafa, securities-law and cybercrime offenses), civil (claims for restitution and damages), and financial-consumer relief before regulators such as the Bangko Sentral ng Pilipinas. This article walks you through every step—from collecting evidence to securing asset freezes—so you can maximize the chances of recovering funds and seeing fraudsters prosecuted. (This material is for general information only and is not a substitute for legal advice.)

1. Governing Laws & Offenses

Law	Typical violation in an online scam	Key penalties
Securities Regulation Code (RA 8799)	§ 8 & § 28 – selling unregistered “investment contracts,” acting as unlicensed broker/agent	Fines ≤ ₱5 million and/or imprisonment ≤ 21 years
Revised Penal Code – Estafa (Art. 315)	Misappropriation or deceit in taking money	Imprisonment (prisión correccional to prisión mayor) + restitution
Cybercrime Prevention Act (RA 10175)	Online estafa (§ 6) & computer-related fraud (§ 4(b)(2))	One degree higher penalty vs. the underlying offense
Financial Products and Services Consumer Protection Act (RA 11765)	Mis-selling by licensed entities, unfair practices	Administrative fines, disgorgement, suspension of officers
Anti-Money Laundering Act (RA 9160, as amended)	Laundering scam proceeds	Freeze & forfeiture; criminal liability
Civil Code	Quasi-delict, unjust enrichment, moral & exemplary damages	Monetary awards, interest, attorney’s fees

Prescription periods at a glance • SRC criminal cases: 5 years from discovery, but not > 15 years from violation • Civil liability under SRC: 2 years from discovery, but not > 5 years from violation • Estafa: 20 years • Civil actions (contract/quasi-delict): 6 years

2. Enforcement & Complaint Fora

Forum	When to choose it	Core documents required
SEC — Enforcement and Investor Protection Department (EIPD)	Any unregistered investment solicitation; pyramid/Ponzi; “buy-and-sell” or crypto schemes	1. Sworn Affidavit-Complaint 2. Documentary proof 3. Proof of identity
Office of the City/Provincial Prosecutor (OCP)	Estafa, SRC violation, cybercrime	Same as above, + filing fee (usually ₱0–₱500)
NBI Cybercrime Division	Tech-savvy syndicates, cross-border actors	Complaint sheet + Forensic media
PNP Anti-Cybercrime Group (ACG)	Urgent takedowns, local perpetrators	Same as NBI
BSP Consumer Assistance Mechanism (CAM)	Scammer used a licensed bank/e-wallet; failure of the bank to act	Written complaint to bank first → escalate to BSP within 15 days
AMLC/Ombudsman for Asset Freezing	To preserve proceeds in bank/e-wallet accounts	Copy of complaint, account details, proof of fraud

3. Collecting Evidence (Before You File)

Screenshots & Screen-recordings — Capture webpages, ads, chat threads, transaction dashboards.
Transactional Proof — Bank slips, e-wallet references, blockchain explorers, remittance receipts.
Communications — Emails, SMS, voice notes; export metadata when possible.
Victim Matrix — Excel list of other investors, amounts, dates (helpful for class-type filings).
Due-diligence notes — Copies of promises/ROI charts used to entice you.
Timeline — A concise chronological narrative makes investigators’ lives easier.

Chain of custody: Keep original files in write-protected media; produce forensic hashes (e.g., SHA-256) for crucial videos/images to pre-empt authenticity challenges.

4. Drafting the Affidavit-Complaint

Parties – Full names, addresses, government IDs.
Jurisdiction & Law Invoked – Cite RA 8799 § 8 & 28, Art. 315, RA 10175, etc.
Narrative of Facts – Dates, mode of solicitation, representations made, payments sent.
Acts Constituting the Offense – Explain how the acts violate specific provisions.
Damages/Relief Sought – Restitution, moral/exemplary damages, asset freeze.
Verification & Certification of Non-Forum Shopping – For court filings.
Attachments – Label (“Annex A”, “Annex B”…), paginate, cross-reference in the text.
Notarization – Required for SEC and prosecutor submissions.

(If multiple victims sign, add a joint-verification page and authority to act as lead complainant.)

5. Where & How to File

A. SEC EIPD (Administrative)

Email the packet to complaints@sec.gov.ph or file through the e-FAST portal.
Pay ₱3,010 (2025 rate) for filing fees if you want the SEC to issue a Cease and Desist Order (CDO) or Show-Cause Order.
SEC may summon the respondent, conduct hearings, and turn over evidence to prosecutors for criminal charges.

B. Office of the Prosecutor (Criminal)

File at the OCP where any element of the offense occurred (place of payment, solicitation, or offender’s residence).
Receive docket number; prosecutor conducts preliminary investigation (PI) within 10 days (summary) or 45 days (regular).
During PI, submit additional evidence; attend clarificatory hearings.
If probable cause is found, an Information is filed in the Regional Trial Court (Special Commercial Court if SRC-related).

C. NBI / PNP Complaint Centers

Submit walk-in or online e-complaint. Bring two IDs; execute a Sinumpaang Salaysay.
Digital forensics team may mirror devices and request NTC takedowns.
NBI may apply for warrant to disclose computer data and warrant to seize (Rule on Cybercrime Warrants, A.M. No. 17-11-03-SC).

D. BSP & IC Financial-Consumer Routes

Write first to the bank/e-money issuer (EMI) (15-day resolution window under RA 11765 IRR).
If unresolved, lodge a complaint via BSP CAM Portal; attach proof of escalation.
BSP may direct the bank/EMI to credit back unauthorised transfers or freeze suspicious accounts.

E. AMLC Freeze & Forfeiture

Forward your filed criminal complaint and transaction proof to AMLC.
AMLC may issue a 20-day freeze order (ex parte) subject to Court of Appeals confirmation.

6. After Filing—What Happens Next?

Administrative Track (SEC)
- CDO within ~48 hours for urgent schemes.
- Monetary penalties—up to ₱1 million per violation + ₱10,000/day of continuing offense.
- Findings forwarded to DOJ for criminal prosecution.
Criminal Track
- Court may issue Hold Departure Order (HDO).
- Arraignment, pre-trial, trial; testimony via Rule on Cybercrime Electronic Evidence admissible.
- Upon conviction, court orders restitution; BTr handles forfeited funds.
Civil Aspect
- By default arises with the criminal case; or file a separate civil action (e.g., RTC or small-claims if ≤ ₱1 million).
Asset Recovery
- Victims may petition court for pre-judgment attachment; post bond.
- AMLC forfeiture proceeds revert to National Treasury but victims may claim restitution in court order.

7. Timelines & Practical Tips

Stage	Typical duration	Tips
Evidence gathering	1–4 weeks	Act fast—scammers dissipate e-wallet balances quickly.
SEC docketing & CDO	1–2 weeks (urgent) / 1–2 months (regular)	Use group complaints; attach media coverage to show public interest.
Preliminary investigation	30–90 days	Respond promptly to prosecutor subpoenas.
Trial	1–3 years	Ask prosecution for provisional asset protection.

Coordinate with co-victims. A consolidated complaint is more persuasive and economical.
Monitor SEC Advisories. Once an advisory is out, banks often freeze related accounts automatically.
Beware of “recovery agents.” Fraudsters offer to “unlock” frozen funds for a fee—another scam.
Preserve mental health. Investment-fraud litigation is lengthy; consider support groups and legal-aid clinics (e.g., IBP Free Legal Assistance).

8. Frequently Asked Questions

Q 1: Can I file even if the scammer is overseas? Yes. Jurisdiction exists if the solicitation or payment happened in the Philippines. Through Mutual Legal Assistance Treaties (MLATs), NBI and DOJ can request foreign evidence and extradition.

Q 2: Will the SEC give my money back? The SEC’s administrative powers focus on stopping the scheme and imposing fines. Actual restitution usually comes from the criminal or civil case, or via BSP-facilitated reimbursements if funds remain in Philippine accounts.

Q 3: Is a lawyer required? Not for filing with the SEC or at the prosecutor level, but professional assistance is strongly recommended once the case reaches court. Public Attorney’s Office (PAO) representation is available to indigent complainants.

Q 4: What if I was promised returns but not paid yet? You need not wait until non-payment. Mere offer of an unregistered investment or false promise of guaranteed returns already violates § 8 of the SRC and constitutes attempted estafa.

9. Sample Affidavit-Complaint Outline

Heading & Caption

Personal Circumstances of Complainant(s)

Personal Circumstances of Respondent(s) — state “address unknown” if verified.

Statement of Facts (chronological paragraphs)

Specific Acts Violating Laws Cited

Prayer for Relief (CDO, prosecution, restitution, freeze order)

Verification/Certification

Notarial Acknowledgment

Annexes (A – transaction receipts, B – screenshots, C – chat logs, …)

(Insert footers: “Page x of y – Affidavit of [Name]”)

10. Conclusion

Filing a complaint against online investment scams in the Philippines is a multi-track process: administrative (SEC), law-enforcement (NBI/PNP), prosecutorial (DOJ/OCP), judicial (trial courts), and financial-consumer protection (BSP/IC). Success hinges on speed, evidence integrity, and coordination with regulators and fellow victims. While recovery is never guaranteed, prompt action maximizes the chances of freezing assets and holding fraudsters accountable. When in doubt, consult a lawyer or reach out to the SEC EIPD hotlines (02-5322-6136, text: 0926-017-0213) and NBI Cybercrime Division (02-8523-8231). Justice may take time, but well-prepared complaints substantially improve the odds.

Prepared July 3, 2025. For questions on this article or requests for template pleadings, feel free to ask.