Manila, April 23 -- The Department of Migrant Workers (DMW) has urged overseas Filipino workers (OFWs) to stay vigilant against loan scams.

In a Facebook post on Wednesday, the DMW said it has ramped up efforts to protect OFWs from falling victim to lending financing companies proliferating online, in partnership with the Securities and Exchange Commission (SEC).

"Mga OFWs, mag-ingat sa mga pekeng pautang sa Facebook! Nanghihingi ng bayad bago magpautang? Scam yan! (To our OFWs, beware of fake loans on Facebook! Asking for payment before granting a loan? That's a scam!)," the post read.

The DMW said these bogus lending schemes are rapidly increasing on social media, particularly Facebook.

These scams typically involve fake financing c...