ILOILO City – As digital transactions become increasingly integrated into daily life, especially in banking and online payments, scams are evolving to match the shift, warned the Bangko Sentral ng Pilipinas (BSP).
BSP is thus advocating for the public to practice rigorous “cyber hygiene”.
Cyber hygiene refers to practices and/or steps that individuals and organizations take to maintain the health and security of their digital systems, data, and online activities. Just like personal hygiene helps protect physical health, cyber hygiene aims to protect against cyber threats.
Atty. Tricia Defante-Andres, deputy director of BSP’s Payments Policy and Development Department, urged the public to remain vigilant against digital scammers who exploit online banking transactions and payment systems.
She highlighted the importance of cyber awareness, especially for those less informed about security measures, as scammers prey on vulnerabilities.
“With the rise of digital payments, digital scammers are also increasing. They capitalize on the digital shift to scam people, particularly targeting those who lack information or secure methods for their financial transactions. This is why it’s essential to practice good cyber hygiene — ensuring secure and responsible use of digital payments for a better customer experience,” Andres said during a BSP media briefing for journalists from Iloilo City, Iloilo province, Guimaras, and Antique on November 13.
To ensure a safe digital financial ecosystem, BSP continuously monitors financial institutions to enforce compliance with its regulations, strengthening the security of the banking system.
However, Andres emphasized that users also have a role in safeguarding their accounts. She advised maintaining strong, private passwords and avoiding sharing sensitive information that could be exploited by scammers.
“It’s vital to stay aware of current scams. Knowing about the latest scam trends enables you to recognize and avoid them. When financial institutions or the central bank release awareness campaigns, it’s important to pay attention so we can quickly identify scams,” she added.
According to BSP, common types of scams include:
* phishing
* money mules
* donation and charity scams
* impostor scams
Andres said cyber hygiene is a shared responsibility involving users, regulators like BSP, and financial institutions. Key steps to secure digital transactions include ensuring a stable internet connection, verifying transaction details, and observing good cyber hygiene.
To reinforce cyber security, BSP recommends the “C-P-R” steps to avoid scammers:
* Check – Banking and financial institutions will only contact customers through official channels, not via text messages containing links.
* Protect – Never share one-time passwords (OTPs) or account details, even with those claiming to be bank or e-money service representatives.
* Report – Report scams to the National Bureau of Investigation (NBI) or Philippine National Police (PNP). You may also contact your phone provider or the National Telecommunications Commission (NTC) to block SMS scammers.
“Financial institutions will never send messages requiring you to click on a link. If you receive such a message, it’s not legitimate. Always delete and avoid clicking on any unverified links,” Andres said./PN
