Philippines: Consumers Shopping, Banking From Home Warned vs Rash of Digital Payment Fraud, Hacking

Source: INQUIRER.net

Digital payment firms and customers using their services should be on guard against a rash of hacking attempts being perpetrated by criminal elements on electronic transaction accounts, especially with their increased used during the ongoing home quarantine scheme.

In a statement, the Philippine Payments Management Inc. (PPMI) also urged clients to trust only legitimate channels when dealing with financial institutions online, including official websites and verified social media accounts. The group said that while the COVID-19 pandemic has increased usage of digital payments, there has been an observed increase in attempts at scams and financial crimes.