social engineering

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).

The cybersecurity firm said banks remain “charming” targets for cyber adversaries.

By using the fear of pandemic, attackers are able to deploy DDoS attacks and steal passwords.

BPI's data protection officer and enterprise information security officer talks about social engineers and how they target their victims.