Recent Posts

Breaking News

BSP cautions public vs SIM card scams

By Richa Noriega

The Bangko Sentral ng Pilipinas (BSP) cautioned the public against the subscriber identity module (SIM) card fraud and scams.

In an advisory on Monday, BSP said that the majority of the banks and other financial institutions require multi factor authentication in online financial transactions.

This entails requiring customers to key in a one-time PIN or password received via their registered mobile phone numbers before online transactions such as funds transfers can be completed, it added.

BSP said that fraudsters are interested in this piece of information for them to carry out unauthorized funds transfers.

It advised the public to never disclose personal information and SIM card details in response to unsolicited calls or messages from unknown individuals.

The BSP stressed that the public should always check email alerts for unusual transactions or activities involving the bank or e-money accounts.


Source: Manila Bulletin (https://business.mb.com.ph/2020/06/23/bsp-cautions-public-vs-sim-card-scams/)

No comments