BMAP has launched ScamCheck.ph, an AI-assisted tool that lets Filipinos assess suspicious messages and emails as part of a regional push to prevent online fraud.
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AI-powered scams are becoming more convincing, using fake identities, voice and face cloning, and fake investment platforms to deceive consumers and steal money.
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Online task scams promise easy money but eventually trick victims into sending their own funds, making it important to recognize the warning signs before losing money.
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BSP-supervised banks and payment providers are phasing out SMS and email OTPs for high-risk transactions by June 30, 2026, replacing them with stronger authentication methods.
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The BSP is warning Filipinos about Quishing, a scam that uses fake QR codes to steal banking credentials, e-wallet information, and personal data.
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BSP Circular No. 1213 requires banks to replace SMS and email OTPs for high-risk transactions with stronger authentication methods such as biometrics and device-based verification.
2 min read