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OFFICIAL STATEMENT ON THE RECENT METROBANK NEWS

The Bankers Association of the Philippines (BAP) is confident that Metropolitan Bank and Trust Company (Metrobank) will quickly resolve the recently reported theft committed by a senior official. This appears to be an isolated incident and we are confident the facts will arise from the ongoing investigations being carried out by both Metrobank and the Bangko Sentral ng Pilipinas (BSP). Such incident is quite unfortunate but we wish to reiterate that banks have established internal controls and systems and instituted separation of functions designed to help prevent crimes of this nature from happening. Suffice it …


News & Press Releases


News & Press Releases


News & Press Releases


News & Press Releases


The Perils of Identity Theft

From 2013 to 2015, over 1,200 cyber crimes were reported to the Philippine National Police Anti-Cybercrime Group (PNP ACG). Of these, 127 (or around 10%) were complaints about cyber identity theft. Cyber identity theft happens when a victim’s personal information is collected and used for malicious purposes online, such as fraud.   Culprits acquire details about a potential victim to gain access to their online accounts by posing as them. Online identities are compromised once cybercriminals get their full names, addresses, birthdates, and so on, as these can be sold on the Dark Web.   …