COCOLIFE, an insurance company that was reported to have been involved in an alleged fraudulent activity, was instructed to halt its kiosks inside SM City Iloilo.
Ma. Dorita Chavez, of the Department of Trade and Industry (DTI), said in a press conference Thursday, July 5, that the mall management instructed the company to cease the kiosks’ operation, as it is where the illegal acts reportedly occur.
The issue stemmed from a Facebook post of RMN wherein a female student claimed the agents of the company was able to withdrew P6,000 from her bank account after she was pressed to sign a certain document.
DTI Provincial Director Diodado Cadena said they also received a similar complaint from another student.
The issue was discussed during one of the Iloilo City Council's regular sessions, prompting the council to call the DTI's attention and conduct an investigation. The case was referred to the council's committee on trade, commerce and industry led by Councilor Candice Tupas.
Chavez said that the present, the kiosks are no longer in the mall.
She said the company also refunded the amount withdrawn from the students' accounts.
The company also vowed to stop such kind of marketing and terminate the agents involved in the case.
It said blocking and pressing customers to sign a document is against its protocol. (SunStar Philippines)