Central Bank of the Philippines Warns of Impersonation Scams Inducing Fake Financial Transactions
On January 19, the Bangko Sentral ng Pilipinas (BSP) issued a fresh warning to the public, cautioning against scams that misuse its name, logo, and staff identities to deceive individuals into financial transactions.
The central bank stressed that its offices and personnel do not conduct or facilitate personal financial transactions such as deposits, withdrawals, or fund transfers. BSP’s engagement with the public is limited to handling complaints about products or services of banks, e-money issuers, and other financial institutions.
Fraudulent Tactics Identified
According to the BSP, fraudsters will:
- Present falsified documents bearing the BSP’s name and logo.
- Misrepresent themselves as BSP staff through emails, text messages, or phone calls.
- Claim to create personal financial accounts for potential victims.
- Attempt to obtain personal information such as bank details and passwords.
- Demand advance payments or fees under fabricated pretexts like anti‑money laundering clearance, taxes, or insurance, and create an unusual sense of urgency.
The BSP emphasized it will never ask the public to transfer funds or make payments for such purposes.
To protect themselves, the BSP urged the public to:
- Ignore individuals or entities claiming to be connected with the BSP.
- Never share personal or financial information with unsolicited contacts.
- Ignore clickable links in SMS, emails, or messaging apps, as banks are prohibited from sending them under BSP regulations.
Those who suspect their financial accounts have been compromised are urged to immediately contact their bank or e‑money issuer through official channels.
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