December 4, 2022

A commercial bank warned the public to be wary of new cyber attacks to prevent being a victim of fraudulent activities that have been on the rise due to the shift to digital transactions.

Security Bank advised the public to be cautious of three common forms of fraud that thieves use – phishing, vishing, and smishing.

Phishing involves the sending of emails to clients by fraudsters who trick them into entering their personal information into misleading websites. These emails are written in a way that causes clients to panic and reveal their banking details.

Vishing is a form of phishing that occurs over the phone wherein a fraudster pretends to be a bank representative and asks questions that lead unsuspecting clients to disclose their sensitive information, while smishing is a technique where fraudsters use text messages with instructions that lure vulnerable clients into sending back their personal information.

“Since many individuals work from home, most of them use online or mobile banking. What happens now is fraudsters pretend to be bank representatives to steal personal information, or worse, authorize transactions through OTP (one-time pin) sharing, among the few,” said Colin Dinn, executive vice president, Segment Head for Enterprise Techno-logy and Operations at Security Bank. 

To help the public remain vigilant against the threat of various scams, Security Bank shared tips on how to avoid cyberattacks:

Be skeptical when an unknown caller starts asking for your personal information (e.g. full name, birthdate, SSS number, TIN, bank credentials, etc.);

Don’t be afraid to ask questions that will give you a hint if the caller and the call itself are legitimate (e.g. “How did you get my contact details?,” “What is your agent ID number?” etc.);

Don’t be easily persuaded. Fraudsters are trained to sound very convincing. They might even have researched about you and your personal background (family, friends, interests, etc.);

To be sure that you are dealing with authorized representatives from Security Bank, contact the bank through the number on the official website and not the number provided by the caller;

Refrain from posting your contact details and other personal information on social media; and

If skeptical with OTPs sent (ex. multiple OTPs), do not immediately key-in. Report to your bank before pursuing the transaction.

Remember that Security Bank will never ask for OTP, Personal Identification Number, Card Verification Code or the three-digit found at the back of a credit card or debit card, and passwords.

Security Bank encouraged its clients to report suspicious activities by calling its fraud hotline at 8-814-2664 or send a message on Viber at 0917-893-0111. – Press release