Abstract
Investment scams have become an increasingly serious societal concern in the digital era, with their prevalence further intensifying during the COVID-19 pandemic. This study utilized a qualitative research approach, specifically descriptive phenomenology, to explore the lived experiences of investment scam victim-survivors. Fifteen participants from La Trinidad, Benguet, Philippines, were selected through purposive sampling and interviewed, with data analyzed using the Colaizzi method. The findings indicate that fraudsters use a systematic process of grooming and manipulation, initially offering small returns to gain trust before encouraging larger investments through tactics involving urgency, authority, emotional persuasion, and social or religious connections. These are further supported by fabricated indicators of legitimacy such as counterfeit documents, manipulated media, and professional façade. These strategies are further amplified in the Philippine context due to extensive internet usage and close interpersonal relationships. Beyond financial losses, victims experienced adverse effects on their economic stability, emotional health, social relationships, and future opportunities, with repercussions also affecting their families. To cope, victim-survivors sought to minimize further losses while adapting to the lasting consequences of the experience through emotional support, professional assistance, social reconnection, and psychological reframing. The study underscores the need for stronger government support for victims and enhanced preventive interventions against investment scams.
Keywords: Consumer Investment Fraud, Philippines, Qualitative Inquiry, Victimization.