Attention Alert: Bank Scammers’ New Modus Operandi

May 28, 2020 | Live, Only Berlin

Attention Alert: Scammers' new modus operandi

BDO urges vigilance vs latest scam

The Bangko Sentral calls everyone to stay vigilant against scammers.  These scammers’ new modus operandi is to offer a considerable amount of money to people who will lend their bank accounts.

The modus operandi

Once recruited, these “money mules” allow the scammers to use their bank accounts to receive cash deposits or online transfers from illegal sources posing as legitimate transactions such as a charity or COVID-19 donations, among others. In our country, mules can be prosecuted under Republic Act 9160 or the Anti-Money Laundering Act, with imprisonment of up to seven years and penalty of up to P3 million. 

BDO expresses its support to the call of BSP. The bank advises its clients and the general public to ignore suspicious communications. Such communications are through calls, emails, private messages, and website links offering easy cash via the use of the victims’ bank account.

Call to action 

BDO reiterates that the most effective way to prevent being victimized by these scammers is to avoid sharing any bank information.  These scammers may appear too convincing and real. They will ask victims to click on links and mostly, the links have the spelled out bank website as a hyperlink. To check its authenticity, let the cursor stay on the weblink without clicking on it. A preview reveals a different site and not to the official website of the bank.

Again, scammers can be smart; but we can always outsmart them.

Attention Alert: Scammers' new modus operandi

Attention Alert: Scammers’ new modus operandi


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