Cebu City Councilor Dave Tumulak
CEBU CITY, Philippines — Cebu City Councilor David Tumulak is warning people about the “dawat-dawat” scheme that has scammed a number of city residents.
Dawat-dawat or Rotating Credit System is an informal money-lending system that would allow a group of people to contribute a fixed amount of money to be held by one member a month and would serve as a form of credit.
Each member will be given a chance to hold the credit in the duration of time that the dawat-dawat is being conducted until the rotation has been completed.
Tumulak said that a group has approached him to seek his help because one of the members from Barangay Hipodromo had run off with their money.
At least 25 individuals from Barangay Mabolo claimed that they lost more or less P500,000 from the dawat-dawat scheme after the suspect disappeared.
“Admin siya so makapost sa social media. At first, maayo kuno kaayo, kay successful. In the end, gidagan, nawala og kalit,” said Tumulak in a phone conference.
The office of the councilor is ready to help other complainants of similar instances so they can be assisted in filing the appropriate cases.
Tumulak urged the public not to join these kinds of money-laundering systems as these are heavily trust-based and has a high chance of scams.
“Well, atong iremind atong mga publiko, kasabot ta nga naglisod ang mga tawo tungod sa pandemic, magsave nalang silag ilaha,” said Tumulak.
The victims of dawat-dawat are urged to report to the police so that they can file charges against the suspect who laundered their money. /rcg