The Cybercrime Investigation and Coordinating Center (CICC) urged the public to be vigilant against loan scams circulating on social media and through SMS messages that falsely claim to be from the Bank of Philippine Islands (BPI).
CICC executive director Alexander Ramos said scammers are offering “too good to be true” loans with low-interest, fast approval and a simple process.
Customers who want to avail of the loan offers are advised to click a link attached to the SMS message that steals the personal and banking information. “We are reiterating our appeal to the public never to click links attached to SMS. Banks will never send clickable links through SMS or email,” Ramos said.
Ramos also advised the public to contact their banks or other legitimate lending institutions directly when applying for a loan. “This process may take sometime, and you may be asked to submit certain requirements. But that is the legitimate way of applying for a loan,” he said.