Due to unceasing incidents of cyber fraud and scams in the Philippines, the Cybercrime Investigation and Coordinating Center (CICC) wants to build a stronger layer of protection for consumers against online fraud, lending app institutions, and online banking scams.

In light of this plan, the CICC wants to establish a partnership with the Bangko Sentral ng Pilipinas through signing a Memorandum of Agreement.

CICC Usec. Aboy Paraiso stated that the bank typically assumes to be absolved when an individual falls victim to a deceptive scheme.

“Ngayon, isang participation mo lang, sabi ng mga banko, “wala na kaming kasalanan diyan”. Pag kinlick mo lang yung link kahit wala ka pang binibigay na details, naa-absuwleto si bangko diyan,” he said

[“Now, in just one participation, the bank says, “we no longer have any fault there”. Once you click the link, even though you didn’t give any details, the bank absolves itself from that.”]

He further explained to implement stricter rules to protect consumers. Consumer protection would be an important step to secure and maintain individuals’ trust in the banking and financial institutions. 

However, if the clients lose their trust, both sides will be negatively affected.

He also recommends that private associations must join to the plan and work with them to craft regulations. 

“It’s a combination of technology-solution and a policy-solution,” he said

The Philippine National Police Anti-Cybercrime Group revealed the smarter move of the scammers. 

Scammers previously used the SMS blaster to send messages to deceive people. 

Now, they utilize an IMSI (International Mobile Subscriber Identity) catcher. According to PNP-ACG, an IMSI catcher is a fake mobile tower between mobile phones and towers of original network provider to send SMS spoofing scams. This type of scam contains phishing link that brings you to fake website, then a scammer will ask your OTP (One-Time Password) to access your account.

PNP-ACG Spokesperson PLt. Wallen Arancillo revealed that scammers can still deceive people through IMSI catcher.

“So, kung nagtataka tayo na nakakatanggap tayo ng mga unwanted messages dahil po don sa mismong machine na yon,”

[“So, if you we are wondering why we receive unwanted messages, it’s because of that machine.”]

PLt. Arancillo further explained that it was huge earlier but now portable. 

She also mentioned that the PNP had earlier found scammers in Mandaluyong and Makati using IMSI catchers.

With reports from Mia Alonzo

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