SEC Facebook

Based on the information gathered by the Commission, a number of individuals
or group of persons claiming to represent PAYNANCE with DTI Certificate of Business
Name Registration (under the name PAYNANCE FOREIGN EXCHANGE
SERVICES) allegedly issued in favor of one DIANA TORRENTE, are enticing the
public to invest their money in said entity.
As posted online, PAYNANCE is offering investments to the public ranging from
PHP500.00 with a minimum amount of PHP 500.00, promising 8% daily earnings in
just 25 days.
As posted online, PAYNANCE is offering investments to the public ranging from
a minimum investment of PHP500.00 with 8% daily earnings.
Interested individuals may sign up through their website (https://crypto-
paynance.com/register).
After signing up, an investor simply clicks “Funds” and cash-in/pay-in through
the mode of payment provided. The investor must upload their cash-in receipt through
Paynance’s platform. Then, he may now choose a compensation plan they would like
to avail of.
Investors may also earn through Affiliate Commissions, namely: (1) Direct
Referral Bonus of 10% at first level; 5% at second level and 1% at third level and
(2) Indirect Referral Bonus of 1% at the 2nd to 5th level.
PAYNANCE allegedly claims that it is earning through Crypto and Forex
Trading.
As the above described scheme involves the sale of securities to the public, the
Securities Regulation Code (SRC) requires that these securities are duly registered
and that the concerned corporation and/or its agents have the appropriate registration
and/or license to sell such securities to the public pursuant to Section 8 of the SRC.
The records of the Commission show that PAYNANCE/ PAYNANCE
FOREIGN EXCHANGE SERVICES PAYNANCE FOREIGN EXCHANGE SERVICES
PAYNANCE FOREIGN EXCHANGE SERVICES is not registered with the
Commission either as a corporation or as a partnership. Further, it is NOT
AUTHORIZED to solicit investments from the public since it has not secured prior
registration and/or license from the Commission as prescribed under Sections 8 and
28 of the SRC.
Hence, the public is advised NOT TO INVEST or STOP INVESTING in any
investment scheme being offered by any individual or group of persons allegedly for
or on behalf of PAYNANCE and to exercise caution in dealing with any individuals or
group of persons soliciting investments for and on behalf of it.
Those who act as salesmen, brokers, dealers or agents or claim to act as such
for PAYNANCE in selling or convincing people to invest in the investment scheme
being offered by said entity including solicitations and recruitment through the internet
may be prosecuted and held criminally liable under Section 28 of the SRC and
penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of
Twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.
Also, those who invite or recruit others to join or invest in such venture or offer
investment contracts or securities to the public may incur criminally liability, or
otherwise be sanctioned or penalized accordingly as held by the Supreme Court in the
case of Securities and Exchange Commission vs. Oudine Santos (G.R. No. 195542,
19 March 2014).
Should you have any information on any recruitment or securities solicitation
activities being undertaken by persons or group of persons claiming to represent
PAYNANCE, you may send your reports to the Enforcement and Investor
Protection Department through email at epd@sec.gov.ph.
For the guidance of the public.
Makati City, 14 July 2022