00:00And we are back. The Bureau of Immigration, or BI, warned the public about the rise in
00:05the number of scams targeting Filipino-Americans, a new trend wherein scammers lure individuals
00:11into investing in fraudulent cryptocurrency schemes. This and other stories in tonight's
00:16Business Wrap from the Philippine News Agency.
00:26In our business news, Bureau of Immigration Commissioner Joel Anthony Villado warns the
00:30public of a new scam trend revealed by Filipino trafficking victims from Myawaddy, Myanmar.
00:39Villado said that scammers targeted Filipinos by making them invest in fraudulent cryptocurrency
00:45while promising a high returns with little to no risk. Earlier, the National Bureau of
00:51Investigation, or NBI, arrested Elias Jonjon, who was among the individuals repatriated
00:58on March 26. Aside from being a recruiter of the scam hub, Elias Jonjon was tagged as
01:06the developer of the new module, Scamming Philamps. The BI assured that the Interagency
01:12Council Against Trafficking is working to protect Filipinos abroad and ensure severe
01:17penalties for perpetrators. Meanwhile, the World Bank's Board of Executive Directors
01:23has approved a loan of US$800 million to support the Philippine government's efforts in advancing
01:29clean energy and improving electricity markets and water management. The World Bank said
01:35the first Energy Transition and Climate Resilience Development Policy loan will accelerate energy
01:42transition and increase climate change resilience. The loan will increase the share of renewable
01:47energy in installed generation capacity from 30% in 2023 to 42% by 2027. World Bank Division
01:56Director for the Philippines, Malaysia, and Brunei, Zafar Mustafaoglu, said these renewable
02:02resources would help the country to lower electricity costs, improve energy security,
02:08and reduce pollution. He also said that this will also benefit the country in building
02:14a strong economy.
