CAGAYAN de Oro City — Residents can reduce their risk of losing money to online scams by securing their financial accounts, recognizing fraud tactics and reporting suspicious transactions promptly, the Bangko Sentral ng Pilipinas (BSP) said during a financial education session in Clarin on Oct. 21.
The BSP's Media Information Session at Aya Hotel and Residences brought together government information officers and media practitioners to discuss money management, consumer protection and cybersecurity.
Lizette O. Antonio, Bank Officer IV of the BSP Economic and Financial Learning Office, discussed ways to manage daily expenses, prepare for emergencies and plan for future financial needs.
She also introduced the BSP Electronic Learning Academy (BELA), which offers online financial education courses, and the Personal Equity and Retirement Account (PERA), a voluntary retirement savings and investment program.
For people who use digital banking and online payment services, protecting personal and financial information is equally important.
Lawyer Josephine H. de Guia, manager of the BSP Technology Risk and Innovation Supervision Department, explained how cybercriminals use social engineering to trick people into revealing sensitive information or giving them access to financial accounts.
Her presentation, “Navigating Cyberthreats to Preserve Financial Stability,” discussed common cyberthreats and ways to secure online transactions.
Alvin A. Tolosa, deputy director of the BSP Consumer Protection and Market Conduct Office, discussed financial fraud schemes and steps victims can take when they suspect they have been scammed.
Participants were introduced to the ALERT guide: Avoid further contact with suspected scammers. Lock affected accounts and devices. Gather and preserve screenshots, messages and transaction records. Report the incident to the bank or financial institution involved.
Tell the appropriate authorities.
The guidance gives victims a starting point for responding to suspected scams, although they should also contact their financial institution immediately and follow its instructions for securing accounts and disputing unauthorized transactions.
The session included an audiovisual presentation on regional economic updates and an open forum where participants raised questions with the resource persons.
Dazielle Tecson, head of the communications team of the Ozamiz City local government, said the lessons could help information officers and media practitioners share practical financial guidance with residents.
“As communicators, we can help share these lessons to empower our fellow Misamisnons to make wiser financial decisions and keep their hard-earned money safe,” she said.
The challenge now is to make financial education accessible beyond the session, particularly to residents who may have limited knowledge of digital banking risks or where to seek help after falling victim to fraud. (With a report from Jasper Marie O. Rucat/PIA Misamis Occidental, with reports from LGU Ozamiz)
