BPI urges public to stay alert against Holiday cyber scams

Don’t let the cyber grinch steal your Christmas. ‘Tis the season to shop with extra caution. Cybercrimes are expected to peak during the holiday period as online shopping surges. 

The Bank of the Philippine Islands (BPI) reminds the public to remain vigilant as cybercrime remains a major concern in the Philippines.

“As the holiday season nears, it is important that consumers stay alert against the rising number of cyber scams. Cybercriminals ramp up scams during this festive season through fraudulent emails, fake websites, and other online threats. By staying informed and cautious, we can protect our personal and financial information from falling into the wrong hands,” said Jonathan Paz, BPI Enterprise Information Security and Data Protection Officer. 

In 2023, global cybersecurity company Kaspersky warned Filipinos of typical phishing attacks during the holiday season. According to a survey by Statista, 8 in 10 Filipinos intend to shop during holiday sales and 7 in 10 plan to shop both in physical and online shops. During the season, people often purchase apparel & footwear, consumer electronics, and children’s toys and games, but scammers try to take advantage of potential victims who are not on guard.

To avoid getting scammed this holiday period, BPI released several tips for the public to consider: 

1. Avoid using public Wi-Fi connection when doing your online transactions.
2. Do not accept help from any stranger when using ATMs. 
3. Never share your One-Time PIN (OTP) with anyone even if they claim to be from your bank.
4. Do not click on random links if you receive an email or text message, especially if from an unknown sender.
5. Before doing your online shopping, ensure that you are on a legitimate website as scammers can create fake accounts of real companies.
6. Apart from keeping your bank online accounts safe, use secure digital wallets as well as they may be targeted by fraudsters.
7. Do not put all your cards and IDs in just one wallet as the risk is very high once it gets lost or stolen. Immediately block and report your account if this happens. 

“BPI is committed to help consumers be more vigilant against cyber-related crimes by promoting cyber hygiene which refers to practices that build resilience against online attacks. We should always remember that cybersecurity is a shared responsibility,” said Paz. 

Annually, BPI invests significant resources for IT and cybersecurity systems and building best-in-class digital platforms, which forms part of its commitment to strengthen the country’s cybersecurity efforts, especially in the age of artificial intelligence (AI).