Julian Gorman, head of Asia Pacific at GSMA, noted that Filipinos are relatively open about discussing their financial losses from digital fraud, including on social media. He considers this a positive development because it encourages public discussion, raises awareness, and puts pressure on institutions to improve online security.
Social engineering scams account for 39% of fraudulent transactions and 36% of fraud-related losses in the Philippine banking industry, with fraudsters increasingly relying on deception to trick customers into transferring money or revealing sensitive information, according to the Bank of the Philippine Islands (BPI).
An estimated $136.5 billion was lost to scams across Asia, with 71% of adults surveyed reporting exposure to fraud in the past year, according to a new regional study by the Global Anti-Scam Alliance (GASA) and Gogolook, the developer of caller identification app Whoscall.
More than eight in 10 Filipino adults encountered a scam attempt over the past year, with fraudsters increasingly using digital wallets, messaging apps, and social media to target victims, according to a new report by the Global Anti-Scam Alliance (GASA).
The Bangko Sentral ng Pilipinas (BSP) and the Department of Justice (DOJ) have signed an information-sharing agreement aimed at speeding up the investigation and prosecution of financial account scams.
The Intellectual Property Office of the Philippines (IPOPHL) has warned businesses and trademark owners against an alleged trademark registration scam involving a United Kingdom-based firm falsely claiming links with intellectual property offices, including IPOPHL.
Telecommunications firms Converge and Smart said they blocked billions of cyber threats and scam-related activities on their networks as online fraud, phishing, and child exploitation continue to grow in the Philippines.
Agents from the National Bureau of Investigation (NBI) arrested 15 individuals in Mandaluyong City on Saturday, May 9, in connection with a cryptocurrency investment scam.
