5 bank scams to avoid during the holidays

As the public prepares to celebrate Christmas and the New Year, be warned that digital scammers take no holiday breaks. Here are five schemes they currently use to steal your hard-earned savings as well as ways to protect yourself.

To keep one’s bank account safe, Bank of the Philippine Islands (BPI) reminded its customers to be cautious of the following: 

1. Fake bank calls that sound real

One of the most common scams involves a caller claiming to be from a bank, e-wallet, or financial service company. They claim there is a suspicious transaction or they need to “verify” one’s account.

“Their goal is to get you to reveal your OTP (one-time password), password, or card details. Banks do not ask for OTP or passwords over the phone,” BPI said.

BPI customers are urged to call its 24-hour contact center at (+632) 889-10000 or chat with BEA on the official website if they encounter similar incidents.

2. Links that lead to look-alike sites

Fraudsters send links to customers, which they can supposedly use to receive refunds, rewards, or account reactivation.

However, these links direct victims to a fake banking page designed to steal login details.

“Remember, BPI will never send clickable links via email or text, so NEVER click on any link,” BPI said.

It reminded customers to check the URL, as BPI officially uses bpi.com.ph.

Scammers pose as bank staff and conduct a system check, where they ask you to read an OTP aloud, screen-share your phone, or install an app on your device.  

“Customers are advised that banks never perform account verification through unsolicited calls or chats,” BPI said.

“Clients must download apps only from Google Play Store, Apple AppStore, and other official mobile app download sites,” it added.

 4. AI screenshots as payment confirmation

The public must also be cautious when transacting on marketplaces in social media since some scammers request payment upfront or send payment confirmation to appear legitimate.

However, the goods or funds never arrive once payment is made.

“If you’re an online seller, scammers may use AI-generated payment confirmation screenshots. BPI is urging customers to check the account to verify, and not just rely on a screenshot,” BPI said.

5. “Emergency” money requests

Scammers reach out to an individual and pretend to be their friend or relative, using a new number, and claim that they urgently need money, usually claiming there is an emergency.

Consumers are advised to verify through another contact before sending anything.

BPI also urged the public to follow the following tips to avoid getting scammed this holiday.

• Keep OTPs and passwords confidential

• Ignore links sent via text, even if it appears to be from BPI

• Transact only through official bank platforms

• Report any suspicious activity immediately

The Cybercrime Investigation and Coordinating Center (CICC) and Scam Watch Pilipinas earlier listed the top 12 scams of Christmas in the Philippines, with online shopping scams leading the list. — Mariel Celine Serquiña/RF, GMA Integrated News