Public urged to be wary amid rising cybercrimes

CEBU, Philippines — The Bankers Association of the Philippines (BAP) urged the public to be even more vigilant amid the rising number of cybercrime incidents.

BAP president Jose Arnulfo A. Veloso reminded once again banking customers to also be responsible in giving out personal information, in order to avoid being victimized by cyber-criminals.

“An important reminder: You will never be a victim of cybercrime if you would never give your personal information, such as One-Time Password, to other people. If you do not give your personal information to others, cybercriminals will never be able to steal your money,” Veloso said in a statement.

“We continue to work to ensure your safe banking experience — an example of this is our Cybersafe campaign. Read the newspapers, follow your banks on Facebook, and watch your favorite social media influencers to know how to be safe while banking online,” Veloso added.

Speaking on the behalf of the banking sector in the country, Veloso stressed that it is not enough to just know how to avoid cybercriminals.

“You are our ally when it comes to stopping them from harming other people. Whenever you encounter a cybercriminal, immediately report it to your respective banks and the police. This is so we can work together to take down cybercriminals, such as the fake bank websites they are using to trick others.”

Taking down cybercriminals does not just benefit consumers, but also other people as these criminals will no longer be able to harm them, Veloso said.

Meanwhile, the in its statement released Monday, December 13, 2021, Bangko Sentral Ng Pilipinas (BSP) assured customers that it has been monitoring the surge in complaints posted in social media platforms since the early part of this week.

“We are in close coordination with BDO as well as UBP on this incident to ensure that remedial measures are being undertaken, including reimbursement of affected consumers. Rest assured that we continue to collaborate and engage stakeholders to ensure the safety and integrity of the financial system as well as the protection of financial consumers,” BSP said.