“As fraudsters become increasingly sophisticated, businesses must continue to equip themselves with the proper tools to detect fraud at the first warning sign without inhibiting the consumer journey,” the official added.
Phishing and text scams, both at 46 percent, were the most commonly reported fraudulent schemes in the past year. Phishing is a fraudulent activity where hackers trick users into giving out their personal information, including bank accounts, through suspicious links embedded in emails, social media posts and even QR codes. A text scam, meanwhile, is a form of phishing attack launched using mobile messages.
A successful phishing attack can lead to identity theft, which is among Filipinos’ primary concerns as well. Stolen identities could be used for taking over bank accounts.Your subscription has been successful.
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