The Credit Card Association of the Philippines (CCAP) urges credit cardholders to stay vigilant against scams in its #FightBudol campaign as it raises credit awareness during the Pilipinas Fraud Awareness Week on July 1 to 5, 2024.
The event aims to educate and raise awareness among Filipino consumers on fighting credit card fraud, especially as scammers become more cunning and innovative with their tactics.
According to CCAP, fraudulent credit card activities via remote and other digital payment channels have significantly increased in the country since the start of the COVID-19 pandemic in 2020.
“Fraud cases have been on the rise due to the growing acceptance of various digital payment platforms. And with the increasing popularity of artificial intelligence (AI) tools and platforms, scammers are finding ways to create smarter, more genuine-looking spam emails, SMS, and other means to deceive credit cardholders,” said CCAP executive director Alex Ilagan.
CCAP rallies its 16 member-issuers behind its ongoing #FightBudol campaign for Pilipinas Fraud Awareness Week. The event will feature a lineup of activities focused on consumer protections and regulations, tips and reminders to avoid credit card fraud, and consumer rights and mechanisms for reporting fraud.
The activities will include a series of educational videos from industry stakeholders like Bangko Sentral ng Pilipinas, Department of Trade and Industry, and National Bureau of Investigation, and telco giants such as Globe Telecom and Smart Communications.
Mastercard and Visa will also sponsor webinars focusing on credit card fraud awareness and prevention.
