BDO Unibank has issued a warning to the public regarding "vishing" or voice phishing scams, which often target bank depositors or online banking clients in an attempt to steal their hard-earned money.
Vishing is a type of scam where the fraudster calls victims to trick them into providing sensitive information, such as bank account details. Once the scammer obtains this information, they can steal the victim's bank account funds.
According to BDO, here are some common tactics used by vishing scammers:
Impersonation of Authorities: Scammers may call victims pretending to be representatives from a government agency, bank, or other organizations. They may also send text messages or direct messages urging victims to call a number where they will speak with the scammer.
Using Sensitive Information to Appear Legitimate: To convince the victim that they are legitimate, scammers may use information about the victim’s credit card or bank account as the reason for the call. This information can be gathered from documents that were not properly disposed of or from posts the victim has made on social media. In some cases, scammers may even join online groups related to credit cards or banking in order to find potential victims.
Urgent and Credible Threats: Scammers may use fear tactics or speak quickly to make their story sound more convincing. They might say things like, “Your account has been hacked,” “There is a problem with your account,” “Congratulations! You’ve won...,” “Special Offer! Valid only today!” or they may tell victims to activate an offer at an ATM in exchange for a reward.
Increased Pressure Over Time: As the conversation continues, the chances of the victim being convinced rise. Believing the call to be legitimate, the victim may feel unable to hang up the phone or stop the conversation. This makes it more likely that they will follow the scammer’s instructions, such as providing their credit card's CVV (Card Verification Value), online banking username and password, One-Time PIN (OTP), or clicking on a link sent by the scammer.
BDO reminds the public to stay calm when receiving texts or calls, especially from unregistered numbers. The bank advises that even if the scammer knows personal details such as your name, phone number, or occupation, you should not immediately believe the message or follow their instructions. It is important to end the call if there is any sense of urgency, and instead, call the official customer service hotline of the supposed agency or bank.
BDO also recommends blocking the number used by the scammer once it has been confirmed as fraudulent and reporting the incident to their Customer Contact Center.