NORTHERN MINDANAO – Representatives from government agencies with consumer protection mandates in region 10 convened for the first Consumer Network (ConsumerNet) meeting for the year on March 13, 2024 at the Conference Room of the Department of Trade and Industry (DTI) Region 10, Cagayan de Oro City.

The meeting dealt on consumer concerns on pyramid schemes and real estate practices.

Atty. Fel Lester Brillantes of DTI-10 elaborated on deceptive practices of pyramid schemes. He also shared tips to avoid falling victim to such scheme:

  1. Be wary of unrealistic promises.
  2. Be wary of schemes that give emphasis on recruitment members or “downlines.”
  3. Research before investing.
  4. Beware of pressure tactics.
  5. Look for red flags, such as putting emphasis on recruiting over selling.
  6. Make no promises or commitment.

Meanwhile, Atty. Coreine Imee Valledor-Sarraga of Department of Human Settlements and Urban Development (DHSUD)-10 discussed on Department of Human Settlements and Urban Development Act, including the regulation functions of housing and real estate development, and the Anti-Illegal Real Estate Practices Inter-agency Task Force.

Aside from the main discussions, collaborative strategies to strengthen consumer protection of the public were also tackled during the meeting.

The meeting was attended by representatives from the regional offices of Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Fisheries and Aquatic Resources (BFAR), Civil Service Commission (CSC), Department of Agriculture Regional Field Office (DA RFO), Department of the Interior and Local Government (DILG), DTI Region 10 and DTI Misamis Oriental, National Telecommunications Commission (NTC), Philippine Information Agency (PIA), Philippine National Police Anti-Cybercrime Group (PNP-ACG), and Securities and Exchange Commission (SEC).

ConsumerNet is a network of government agencies tasked to implement consumer-related laws and perform consumer protection functions. DTI serves as the secretariat of the network. ♦

Date of Release: 15 March 2024