Lending giant Banco de Oro Unibank yesterday said that they have already implemented additional security controls to block further attempts and continue to protect bank credentials as a surge of hacking complaints on social media emerged.
“We are aware of a sophisticated fraud technique which has affected some of our clients.
We have required our online banking users to update their passwords. Changing their password improves account security and prevents fraudsters from accessing their hard-earned money,” BDO said in a statement.
Since early last week, numerous clients posted that they have received emails or text messages informing them that they have been debited as much as P50,000 from their BDO online accounts without their knowledge.
BDO said that they will reimburse losses incurred by their innocent clients.
“Cybersecurity is a focal point of the banking sector. We at BDO are continuously investing and working towards improving our security infrastructure to protect our clients’ money.
While we have put back-end measures in place, we appreciate our clients’ continued vigilance to combat fraud,” BDO said.
The Bangko Sentral ng Pilipinas yesterday also issued a statement, saying that the central bank 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 Unionbank of the Philippines on this incident to ensure that remedial measures are being undertaken, including reimbursement of affected consumers,” Benjanin Diokno, BSP Governor, said in a statement.
“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,” Diokno added.
Jose Arnulfo Veloso, Bankers Association of the Philippines President, said that the BAP calls on everyone “to be even more vigilant in the light of the rising number of cybercrime incidents around us.”
“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 said.
“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 you, but also other people as these criminals will no longer be able to harm them,” Veloso added. – Jimmy C. Calapati
