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Filipinos Warned vs Online Banking Fraud Amid Pandemic

The Bankers Association of the Philippines (BAP) warned the Filipino people against online banking fraud amid the COVID-19 pandemic.

On Friday (November 26, 2021), BAP Vice President Jose Veloso warned the public regarding online banking fraud because thieves and criminals do not easily give up and kept on making ways to steal money from someone’s bank account.

“Kailangang maging suspetyoso sapagkat ang kriminal ngayon hindi na pumapasok ng bangko na may hawak na baril. Basta may connectivity sila sa internet, ‘yan na ang simula ng kanilang pagkukuha ng pera sa mamamayan natin,” Veloso said.

Online Banking Fraud

Veloso reported that hackers are taking the personal information of the victims such as name, date of birth, and password. After taking the necessary details, the thieves will start to steal money from the victim’s bank account without its knowledge.

The suspects usually contact their victims via phone call, email, or text message. Scammers usually instruct victims to give their personal details to update their accounts because it’s the only way to break the bank’s security protocol.

“Pinipilit ng mga kawatan na makuha ang impormasyon mo kasi doon lang niya mabe-break ang security protocol ng bangko,” the agency’s executive added.

Online Banking Fraud

The BAP official also advised the bank users to make more secure passwords and never give out information about their bank accounts to avoid being a victim. He just wanted to prevent scammers from victimizing the Filipino people working hard to earn and save money amid the health crisis.

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