The Cybercrime Investigation and Coordinating Center (CICC) is alerting the public about loan scams spreading on social media and fraudulent SMS messages pretending to be from the Bank of the Philippine Islands (BPI).
“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,” Alexander Ramos, executive director, CICC, said in a statement.
Scammers lure victims with promises of low-interest loans, fast approval, and an easy process. The SMS message contains a link that, once clicked, steals personal and banking details.
“Don’t be stubborn to avoid scams,” Ramos warned. He advised those in need of a loan to contact banks or legitimate lending institutions directly.
“This process may take some time, and you may be asked to submit certain requirements. But that is the legitimate way of applying for a loan,” he said.
BPI confirmed to CICC that the circulating SMS messages are fake and stressed that it does not send messages with links.
“If there’s a link, don’t overthink. It’s a scam,” BPI posted on its official social media page.
Victims of loan scams or other cybercrimes are urged to report incidents through the Inter-Agency Response Center hotline at 1326, which operates 24/7, including weekends and holidays.
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