Bankers Association calls on public to be more vigilant vs. cyberattacks

Bankers Association of the Philippines president Jose Arnulfo “Wick” Veloso over the weekend called on the public to be more vigilant against cyberattacks, following reports of fraudulent schemes involving one of the country’s biggest lenders.

In a statement released Sunday, Veloso reminded the public to refrain from giving out sensitive information which could lead to their accounts being compromised.

“Isang paalala: Hindi ka magiging biktima kung hindi mo ibibigay ang iyong personal information, tulad ng One-Time Password (OTP) sa ibang tao. Kapag hindi mo ibibigay ang iyong personal information sa iba, hindi mananakaw ng mga kriminal ang iyong pera mula sa iyong bank accounts,” the statement read.

[An important reminder: You will never be a victim of cybercrime if you 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.]

The statement was released after reports that accounts under BDO Unibank Inc. fell victim to fraudulent schemes, which the Sy-led lender acknowledged.

BDO said it will reimburse losses of the “affected innocent clients,” and it will continue with its push to boost its cybersecurity efforts to improve its infrastructure and protect clients’ money.

The Bangko Sentral ng Pilipinas (BSP) is already looking into the matter, and is close coordination with both BDO and the Union Bank of the Philippines, where the funds were supposedly transferred and used to acquire cryptocurrencies.

GMA News Online has reached out to UnionBank for comment, but the firm said it is still verifying the reports.

“Patuloy kaming nagtatrabaho para kayo ay ligtas habang nagbabangko online — halimbawa nito ay ang aming Cybersafe campaign,” said Veloso.

“Basahin ang mga dyaryo, sundan ang iyong bangko sa Facebook, at panoorin ang iyong mga paboritong social media influencers kung papaano kayo magiging ligtas habang nagbabangko online,” he added.

[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 also called on the public to immediately report any incidents to their respective banks and the police, noting that the banks are open to working with clients to take down cybercriminals.

“Taking down cybercriminals does not just benefit you, but also other people as these criminals will no longer be able to harm them,” he said. — BM, GMA News