Makati City Bakuna

Banks warn people vs rising online fraud

The Bankers Association of the Philippines confirmed Thursday an increase in online fraud, such as phishing and other cybercrimes, especially during the pandemic.

“We ask the public to remain vigilant against these schemes. Today, cybercriminals are creating more methods to defraud the public. We would like to remind the customers that banks regularly communicate the best practices that the public can utilize to ensure their cyber safety. We call on everyone to be aware of these reminders and apply them so that cybercriminals will fail in their attacks,” the BAP said in a statement.

The BAP said all banks have rigorous protocols when it comes to investigating cybercrimes in order for these criminals to be apprehended and penalized. The industry also continues to make investments related to cybersecurity to protect clients’ personal data at all times, it said.

“Ensuring everyone’s security in cyberspace must be a joint effort between banks and their clients,” the BAP said.

Topics: Bankers Association of the Philippines , online fraud , cybercrimes
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