Expat Community > Philippines

BertelBertelsen
Joined 2016
Posts: 251

Watch out for foreigners who want to lend money

8 years ago

Over the years I have not encountered a lot of people that were scammed by Philippinos . This is mainly because their scams are too simple or sound too good to be true. The funniest scam is the hidden treasure scam. People approach you with a map and a story that there is a hidden treasure there. It is amazing how many people still fall for that scam. I met one of the people that has fallen for this scam and he was a big shot with a car company and a good set of brains. But maybe people lose a bit of their mind when they enter this wonder full country.
Living as a foreigner in this country brings you in contact with a lot of other foreigners. We tend to flock together so we can share experiences and give each other tips on what to see and what to do. And that is how most of the foreign scammers also work. They are always in the right spots. Most of them have good stories about their great background back home. They woo you with how good they are in doing business in Asia and how many influential people they know.
And then comes the tricky part. Most of it involves shipments coming into this country. Most of the foreign scammers have a local place of business or an office. But they say they invested their money in a large shipment of goods and have now trouble clearing it out of the shipyard cause customs wants more money(which is true most of the times). Most of the times they also have the right documents to show to you. Like that the shipment is paid for and what it contains.
And then you lend them the money and you will see less of them. If you call them or go by there office you will hear tomorrow or next week I will get the money. So if people want to lend money from you make a maximum of 200 dollars. But over the years I have seen to many people loose money to ‘friends’, just because they are also foreigners.
Look at it with a business sense. If it is worth a lot of money than most of the times a bank is also interested. Or a moneylender.(there are millions of money lenders in this country). And if they say no. So should you

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Watch out for foreigners who want to lend money

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