Protect Yourself from Fraud and Scams in the Philippines
Official BSP guide to identifying and preventing fraud and scams in the Philippines. Learn about ATM skimming, phishing, Ponzi schemes, and how to report.
Fraudsters and scammers are increasingly sophisticated in targeting Filipinos. This guide, based on official BSP guidelines, helps you identify, avoid, and report common scams.
Emergency Contacts
| Agency | Contact |
|---|---|
| BSP Consumer Affairs | (02) 5306-2584 |
| NBI Cybercrime | (02) 8523-8231 local 3455 |
| PNP Anti-Cybercrime | (02) 3414-1560 |
| SEC Investment Scams | (02) 8818-6337 |
| BSP Online Buddy (BOB) | Text “Complaint” to 21582277 |
If You’ve Been Scammed
- Contact your bank immediately
- Change all passwords and PINs
- Report to appropriate authorities
- Document everything
- Monitor accounts closely
How Fraudsters Operate
The Four Pillars of Fraud
| Tactic | How It Works |
|---|---|
| False Representation | Pose as bank officials, government agents |
| Phantom Riches | Promise guaranteed wealth |
| Social Consensus | Claim others have benefited |
| Source Credibility | Fake credentials and affiliations |
Your Defense: Think, Examine, Study
- THINK - Consider credibility and risks
- EXAMINE - Don’t rush; question claims
- STUDY - Verify with multiple sources
Common Scam Types
1. ATM Skimming
Criminals install devices on ATMs to steal card data.
Protection:
- Check for loose parts on ATMs
- Cover keypad when entering PIN
- Use ATMs in well-lit areas
- Check account balances regularly
2. Phishing Attacks
Fake emails, texts, or calls requesting personal information.
Warning Signs:
- Generic greetings
- Poor grammar
- Urgent language
- Suspicious links
Protection:
- Banks never request info via email/text
- Don’t click suspicious links
- Verify by calling official numbers
3. Text/SMS Scams
Fraudulent messages about fake prizes or urgent payments.
Protection:
- Don’t provide personal info via text
- Don’t pay fees for unsolicited prizes
- Block and report spam numbers
4. Ponzi & Pyramid Schemes
Fake investments where returns come from new investors, not profits.
Warning Signs:
- Guaranteed high returns
- Focus on recruitment over products
- Pressure to invest quickly
Legitimacy Test:
- Is there a real product?
- Is compensation based on sales, not recruits?
- Can you earn without recruiting?
5. Romance Scams
Fake relationships leading to money requests.
Protection:
- Be cautious of fast-progressing relationships
- Never send money to online contacts
- Verify identity through video calls
6. SIM Swapping
Criminals gain control of your phone number to access accounts.
Protection:
- Add extra security to mobile account
- Monitor for sudden loss of signal
- Use authenticator apps instead of SMS
- Contact provider if SIM stops working
7. Job/Recruitment Scams
Fake overseas job offers requiring upfront fees.
Protection:
- Research companies thoroughly
- Be cautious of upfront payment requests
- Verify with POEA for overseas jobs
8. Unauthorized Online Lenders
Fake lending apps collecting fees and personal data.
Protection:
- Verify BSP/SEC registration
- Never pay upfront fees for loans
- Check customer reviews
Account Security Checklist
For Financial Accounts:
- Enable two-factor authentication
- Use strong, unique passwords
- Set up transaction alerts
- Monitor statements regularly
For Personal Information:
- Never share OTPs, PINs, or passwords
- Shred sensitive documents
- Limit social media information
- Verify caller identity
For ATM/Card Safety:
- Cover keypad when entering PIN
- Keep cards in sight during transactions
- Check for suspicious ATM devices
- Report lost cards immediately
For Online Safety:
- Keep software updated
- Use HTTPS websites
- Log out after banking sessions
- Avoid public Wi-Fi for transactions
Where to Report
Financial Fraud (Banks, E-money)
BSP Consumer Affairs
- Email: consumeraffairs@bsp.gov.ph
- Phone: (02) 5306-2584
Investment Scams
SEC Enforcement & Investor Protection
- Email: epd@sec.gov.ph
- Phone: (02) 8818-6337
Cybercrime
NBI Cyber Crime Division
- Email: ccd@nbi.gov.ph
- Phone: (02) 8523-8231 local 3455
PNP Anti-Cybercrime Group
- Email: acg@pnp.gov.ph
- Phone: (02) 3414-1560
Insurance Fraud
Insurance Commission
- Email: reportscam@insurance.gov.ph
- Phone: (02) 8523-8461 local 103
Golden Rules
- If it’s too good to be true, it’s a scam
- Never share OTPs or PINs with anyone
- Verify before you trust
- When in doubt, don’t proceed
- Report suspicious activity immediately
Stay vigilant and informed. For the latest fraud prevention information, visit bsp.gov.ph.