Manila: The Cybercrime Investigation and Coordinating Center (CICC) has issued a warning to the public about an increase in investment scams within the Philippines, primarily focusing on cryptocurrency. This warning comes amid rising global cryptocurrency prices. According to Philippines News Agency, CICC Executive Director Alexander Ramos reported that 14 individuals have recently filed complaints with the CICC regarding scams involving cryptocurrency and dollar investments. Ramos noted that this rise in scams aligns with a video message released by the US-based Federal Trade Commission, which alerted the public to a growing number of investment scams in the Philippines. The message also urged victims to report such activities to the CICC and other relevant law enforcement agencies. Ramos explained that many of these scams are perpetrated by foreigners who lure victims with promises of high returns on cryptocurrency investments. These scammers often create a sense of urgency, pressuring victims to invest q uickly by claiming that the opportunities are limited and that they might miss out on significant gains. The victims, according to Ramos, were instructed to invest amounts ranging from USD100 to USD1000, which they were required to deposit into foreign accounts. After the deposits were made, communication with the scammers was abruptly cut off, leaving the victims without recourse. Ramos emphasized the importance of conducting thorough research before engaging in any investment activities. He advised the public to verify the legitimacy of investment companies by checking with government regulatory agencies to ensure they are licensed to operate. He reminded potential investors that no investment is without risk. For those who have fallen victim to such scams or other cybercrimes, the CICC has provided a toll-free hotline through the Inter-Agency Response Center (IARC) at 1326. This hotline is available 24/7, including holidays, to assist those in need.