BAGUIO CITY(PIA) — The Bangko Sentral ng Pilipinas (BSP) has shared practical steps in responding to financial fraud, using the easy-to-remember acronym ALERT.
During the Media Information Session, Rochelle D. Tomas, Director of the Consumer Protection and Market Conduct Office (CPMCO), emphasized that scams are a reality not just in the Philippines but the whole world.
“Based on a 2025 survey, 77% of Filipinos said they have been scammed, 30% lost money, and sadly, 74% did not report the incidents. We want to empower the public on what to do when this happens,” Tomas stated.
Tomas outlined the immediate actions one must take: Do not panic. Just be ALERT.
– Avoid further contact. Stop all communication with the scammers immediately. Do not attempt to negotiate or recover funds directly, as this may lead to further loss or compromise other accounts.
– Lock your accounts and devices. Secure your bank apps, e-wallets, emails, and social media accounts. Change passwords immediately and use strong, unique passwords for each account. Enable biometrics (fingerprint or facial recognition) and avoid using public Wi-Fi for transactions.
– E – Gather Evidence. Keep screenshots of transactions, reference numbers, chat messages, links, and websites used by the scammers. These are vital for investigation.
– Report Immediately. Notify your bank or financial institution right away. Tomas reminded that under BSP rules, legitimate institutions never ask for passwords, OTPs, or PINs, and are prohibited from sending links asking for personal details.
– Tell the appropriate authorities. File a formal report with law enforcement agencies such as the PNP Anti-Cybercrime Group or the NBI.
Red flags to watch out for, Tomas warned, is that scammers trick people into disclosing sensitive information to take over accounts.
“Kapag may humingi sa inyo ng OTP o PIN, o nag-send ng link na kailangang i-click, scam na po iyan. Stop immediately,” she said.
She reminded media practitioners and Information Officers to help disseminate this information, stressing that consumer protection is a shared responsibility. **JDP/MAWC-PIA-CAR
