As fraud and cybersecurity remain key concerns in the digital banking space, BDO Unibank continues to enhance its measures to help protect the hard-earned money of its depositors.

Roy L. Villareal, senior vice president and head of Digital Banking for the Consumer Banking Group of BDO Unibank, shared that the Bank continues to invest in cybersecurity and anti-fraud platforms.

“Our systems are designed to detect unusual patterns and assess transactions based on customer verification and behavior. Alongside these system capabilities to help address fraud, phishing, and other cyber risks, we also actively educate our customers on how to secure their accounts — such as not clicking links no matter who the sender is, never sharing account, card, login details or OTP with anyone, and locking and unlocking your card on BDO Online or BDO Pay as needed.”

According to a report from a global intelligence network, the suspected digital fraud rate of transactions in the Philippines stood at 13.4 percent in 2024, placing the country among the higher rates across markets analyzed.

As of the first half of the current year, more than 5,000 Filipinos linked to various online crimes were arrested, according to the Philippine National Police Anti-Cybercrime Group.

Digital bankers rise

Amid these developments, the BDO official noted that the number of digital depositors has grown significantly over the past five years.

“We’ve seen a growth rate of 143 percent for digital banking adoption from 2020 to the present. This has been driven by factors such as the pandemic accelerating the shift to cashless transactions, a growing base of digital-native customers, and improvements in internet infrastructure and accessibility,” he said.

Villareal added that BDO continues to improve both the user experience and security features of its apps and services, with customers increasingly using digital channels alongside physical banking touchpoints.

He explained that transactions undergo authentication, with customers able to use biometrics and secure PINs alongside OTPs, even as the Bank gradually moves towards push authentication to strengthen protection against fraud.

“Customers can closely monitor their transactions and receive real-time updates and important advisories from the bank, which makes it essential for customers to turn on their app notifications,” he said.

He added that new features have been added to the Bank’s everyday payments app, BDO Pay, such as being able to view their credit card’s electronic Statement of Account, Lock/Unlock Debit and Credit Cards, and Add/ Remove Accounts, making everyday banking more secure and convenient.

Contribution to digital inclusion

The country’s financial inclusion rate has reached 50 percent.

According to the World Bank's Global Findex Database 2025 report, 50.2 percent of approximately 82 million Filipinos aged 15 years and above owned financial accounts in 2024, slightly lower than 51.4 percent in 2023.

However, this still trails the 83.3 percent average for East Asia and the Pacific, and 70.4 percent for lower middle-income countries.