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... Every defense or every capability that we develop to block or to catch or to nullify this kind of transactions, of course they come up with new technology, they come up with new techniques.

So ganoon lang talaga. That's the only way that we can do it. We just continue to monitor very closely and do all that we can.

So we just have to be very, very watchful and we have to be very, very careful and also be aware of the new technologies, of the new ways in which we can prevent these kinds of things.

But it really comes down to the public. My advice to the public is that when you get the message and there is a deal being presented and it sounds too good to be true, it is.

There is no such thing as 100% risk-free. There is no way to guarantee these enormous returns on what they are claiming, on the money that you give them.

So if the public is aware and knows and is able to spot because of the way that these scams are presented, then that is the best defense that we have.

Pag nakita nga, sasabihin, ah, hindi, kalukuhan nito. So just archive it and just don't open it even. Kasi baka makapasok na naman yung mga malware, mga worm, you never know.

It's, as I said, it's basically an arms race, but our best defense is a knowledgeable consumer who can see for themselves and determine for themselves that those that are legitimate offers of, let's say, a promotional offer as opposed to a scam.

Yes, sir. Will you push for any sanction on this matter?

Do?

Any sanction on this matter? Will you push?

These are people sitting in somebody's basement with a computer which they can just shut down, sell away, buy a new one, and keep going. So that's the trouble that we are finding now.

Of course, should anyone be found guilty of promoting such scams, then the full force of the law will come into play.

Thank you very much, Mr. President.

Thank you, Mr. President. Maricel Halili, TV5.

Sir, magandang umaga po.

Magandang umaga.

Sir, are you happy with the version of Maharlika Bill passed by our legislators? When will you sign it, sir?

I will sign it as soon as I get it. Am I happy? Well, that is the version that the House and the Senate has passed, and we will certainly look into all of the changes that have been made.

And I think most of the changes that were proposed and that were eventually adopted really had to do with the safety and the security of people's pension funds. Doon nag-alala ang tao.

But let me, you know, perhaps we are looking in the wrong direction. The key to the success of any fund, hedge fund, pension fund, sovereign fund, investment fund, is the management.

Of course, all of these things can happen. We've seen them happen before because the management chose for it to happen. Ito mga skandalo na nakikita natin sa ibang lugar.

On the other hand, we see examples of really successful funds, and really the difference is the management. And that's why we have made sure that it is not a government, it is independent from government.

One of the first changes that even I proposed to the House was to remove the president as part of the board, to remove the central bank chairman, to remove the Department of Finance because it has to operate as an independent fund, well-managed professionally. Yan ang susi diyan.

Kung korap ang ilagay mo diyan, korap talaga yan. Mamawala yung pera. Kung mahusay ang ilagay mo diyan, lalaki-lalaki yan at magagamit natin yung pondong yan. So that's where we are now.

If the Maharlika Fund, if the bill comes before me, I will sign it. But the secret to its success is who do we put in management, what is their experience, what is their reputation, what is their success rate.

And we have quite a few good money managers, financial managers there that we can call upon. So certainly, sometimes I've been watching the discussions that have been going on in the Maharlika Fund, and I say that's all true, that's all true, you must worry about that.

But the only way to make sure that we do not get into trouble, the fund does not get into trouble, is that it's well and professionally managed. And so one of the elements that makes that happen is that there is a very clear independence from the day-to-day government function.

Those decisions are not made by political decisions in government. The decisions made for the fund are made by finance professionals.

Q. What is your reaction to this?

Ibig sabihin, sabay-sabay tayong tutulung, and that's really what we are talking about.

na magandang mag-trabaho dito, magandang mag-invest dito, magandang mag-negosyo, magandang kausap ang gobyerno, magandang kausap ang mga private sector. Yun ang ating habol para sa ekonomiya.

At the same time, we always have, we are government after all, and the social side of that is also very important. So talagang pinipilit natin, but we can only afford a large social program if you have a robust business side that is also giving you returns.

So it's all connected, not only for the mainstream, but also for those who sometimes fall through the cracks, disenfranchised, kung tawagin. And those are the old, the young, and the sick. Yun kailangan talaga gobyerno ang gagawa niya.

So these are, I think naintindihan, naunawa ng tao yan. At kahit na hindi pa natin nabubuo, nakikita naman siguro na lahat ng kaya ng gawin ng pamahalaan ay ginagawa para maabot natin yang ganyang klaseng sitwasyon. Magandang buhay, magandang maraming trabaho, at kahit na yung mga naghihirap ay nakakatanggap kahit pa pa, nakakatanggap ng tulong sa pamahalaan.

Salamat.

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