BSP warns public vs. scammers using fraudulent documents

The Bangko Sentral ng Pilipinas (BSP) on Thursday warned the public anew against scammers using fake documents to dupe individuals into giving out payments and confidential information.

"The Bangko Sentral ng Pilipinas (BSP) warns the public against fraudulent loan documents, deposit certificates, fund transfer documents, or other commercial papers allegedly issued, secured, or guaranteed by the BSP," it said in an advisory.

According to the central bank, it has received word that scammers now pretend to be authorized BSP officials and provide fraudulent documents to individuals, corporations, or institutions.

"Scammers claim that such documents will facilitate financial transactions in favour of the recipients, in exchange for confidential personal or corporate information, and subject to fees or charges," it said.

In its advisory, the BSP advised that it does not issue or guarantee commercial documents or products such as banking forms, fund transfer orders, and certificates of deposit.

Likewise, it does not transact with individuals, corporations, or institutions at random as it only deals with authorized or accredited counterparties.

"For your protection, do not believe claims of unexpected monetary gain," the BSP said.

With this, the central bank warned the public to be vigilant against fake documents which contain the following:

• Imitations of the BSP seal, logo and official-looking document formats.
• Forged or digitally-copied signatures of BSP officials, employees or consultants.
• Alleged BSP products, services, or partnership agreements offered by individuals or establishments posing as BSP officials, employees or consultants, whether in-person or on social media.

For concerns, the BSP said individuals may report suspicious documents or activities to the Financial Consumer Protection Department through email at consumeraffairs@bsp.gov.ph or by phone at (+632) 708-7087.

Just last week, the BSP waved the red flag over CoopHub, warning the public not to deal with the company as it has not secured the requirements to operate as a Credit Surety Fund. —Jon Viktor Cabuenas/KBK, GMA News