A total of 474 employees working in a company posing as a business process outsourcing firm in Pampanga were arrested by the Philippine National Police for their alleged involvement in a multi-million online scam.
The PNP Anti-Cybercrime Group (ACG) and the Special Action Force busted a company in Berthaphil Business Park at the Clark Special Economic Zone on June 6, reported CNN Philippines.
The authorities said that the company headed by eight Israeli nationals have been operating a business that has been engaging in illegal online financial transactions.
They added that the company has been operating for two and a half years now and was able to establish a call center with hundreds of employees before it was taken down.
Reports state that the company’s fraudulent transactions would reach up to $1 million (around P53 million) on a daily basis and the money would be transferred to several international bank accounts in Czech Republic, Romania, and Germany.
Police discovered the company’s illegal operations after several Australian and South African nationals flew to the Philippines to complain about having duped by the company.
The police said that the company failed to present legal documents.
A few days after the authorities busted the company, further reports said that the Filipino employees have been released for further investigations.
Meanwhile, the eight foreign nationals involved in the company operation are still under detention and have been charged with syndicated estafa with no bail recommended.
