Citing TikTok’s popularity and its potential to engage the public through short-form videos, Securities and Exchange Commission (SEC) Commissioner Rogelio Quevedo on Tuesday emphasized the platform’s importance in educating Filipinos about investment scams and fraud.
During the ceremonial signing of a Memorandum of Understanding (MOU) with officials of ByteDance Philippines Inc.—the local arm of global technology company ByteDance, which operates platforms including TikTok—in Taguig City, Quevedo said preventing scams is essential, as these schemes undermine public confidence in the financial markets.
The MOU, he explained, “establishes a structured framework to educate Filipinos about common financial and investment scams by detecting, preventing, and removing such content, while boosting awareness of associated risks.”
Under the agreement, the SEC will refer suspected fraudulent content to ByteDance Philippines for review and action in accordance with TikTok’s community guidelines.
“We will co-develop one to three videos under the ThinkTwice campaign to help users spot and avoid scams, paired with broader consumer outreach initiatives promoting financial literacy. Additional efforts include policy dialogues on fraud trends and enhanced risk controls for financial services on digital platforms,” Quevedo said.
The collaboration comes amid a recent Global Anti-Scam Alliance survey indicating that more than 75 percent of Filipino adults encountered at least one scam over the past year.
Yves Gonzalez, TikTok’s Head of Public Policy for the Philippines, reaffirmed the platform’s commitment to user safety, noting that TikTok “has always prioritized the safety of its community, investing in technology, human moderation, and educational initiatives to stay ahead of emerging threats.”
“While the fight against scams is multi-sectoral, we are confident that our partnership with the SEC is an important step in empowering Filipinos to navigate the digital world safely,” she added.
Beyond reporting suspected scam-related content, the SEC and TikTok will also co-create a series of #ThinkTwice videos designed to educate the public about common financial and investment scams, teach users how to verify information, and offer practical tips to avoid fraudulent schemes.
The first video will focus on Ponzi schemes, which lure investors with promises of guaranteed returns generated from the contributions of new participants.
All videos will be available on TikTok’s official social channels and the #ThinkTwice Resource Hub.
