#BPIcybersecuriTips: If you receive text messages warning you about suspicious activity on your account and telling you to click on an embedded link to update or secure your account — ignore the message and block the sender immediately! pic.twitter.com/jjhiV9y4xk7xm

— BPI (@TalktoBPI) April 29, 2020

MANILA, PHILIPPINES — The Cybercrime Investigation and Coordinating Center (CICC) warns the public of loan scams pretending to be the Bank of the Philippine Islands (BPI).

CICC Executive Director Alexander K. Ramos said scammers are offering loans that are “too good to be true.” 

READ: How to get online loans in the Philippines

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These low-interest, fast-approval, and simple loan scams will ask people to open a link in an SMS message.

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Accessing the link steals a person’s sensitive data and banking information.

“We are reiterating our appeal to the public never to click links attached to SMS,” Ramos reminded the public.

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“Banks will never send clickable links through SMS or email.”

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“Huwag na pong matigas ang ulo para iwas sa scam.” (Kindly heed this reminder to avoid falling for loan scams)

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Instead, the CICC Executive Director advises everyone to contact their banks or other legitimate lending institutions when applying for loans. 

This law mandates a quarterly tax on foreign DSPs such as video streaming platforms, mobile applications, online advertising spaces, search engine services, and social networks, among others.

“This process may take some time, and you may be asked to submit certain requirements,” Ramos stated.  

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“But that is the legitimate way of applying for a loan.”

BPI has confirmed with CICC that the circulating SMS message is part of a loan scam. 

Moreover, the bank emphasized that it does not send out SMS messages with links.

“If there’s a link, huwag na mag-overthink. Scam iyan.” (If you see a link, don’t overthink it; that’s a scam.)

If you’ve been a victim of loan scams and other cybercrimes, call hotline 1326.

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