This Holy Week approaches, the Bank of the Philippine Islands (BPI) has intensified its efforts to caution the public against falling prey to digital scams and fraudulent activities.
Reports of cyber-criminals employing various tactics, including social engineering attacks through emails, phone calls, and text messages, have prompted BPI to issue comprehensive guidance on digital hygiene measures.
“We have often received reports where a would-be victim got a call from someone allegedly from the bank and that the caller is asking for their ‘activation’ or ‘confirmation’ number,” said Jonathan Paz, enterprise information security and data protection officer, BPI. “Based on the conversation, it’s really the OTPs they were after. With the many OTP-related reminders being put out not just by BPI but the entire banking industry, these scammers tweak their spiels to convince potential victims, which is what social engineering is all about.”
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Paz further explained that scammers utilize information about banking products and marketing programs to craft convincing schemes, such as fake promotions or counterfeit web pages, aimed at extracting sensitive information from unsuspecting individuals.
Acknowledging the increased risk during holidays when people may lower their guard, Paz urged vigilance and emphasized the importance of maintaining digital security year-round.
To mitigate the risk of falling victim to social engineering schemes and cyberattacks, BPI recommended the following measures:
- Exercise caution with unfamiliar senders’ contact details in emails or SMS.
- Refrain from opening unexpected links or downloading file attachments without verifying their legitimacy.
- Exercise skepticism when receiving unsolicited calls purportedly from the bank, as BPI never solicits sensitive information like OTPs or CVV/CVC codes.
- Familiarize oneself with communication protocols employed by institutions and organizations, and verify the legitimacy of messages.
- Contact the 24-hour BPI Contact Center hotline at (+632) 889-10000 for assistance or visit BPI’s official Facebook page for cybersecurity advisories and tips.
- By promoting awareness and adherence to these guidelines, BPI aims to empower the public in safeguarding against digital scams and ensuring a secure banking experience.