While BDO is still reeling from the effects of the losses it incurred due to a massive hacking incident, a number of accountholders questioned a particular clause under its terms and conditions. Under the liability section, it said that BDO is not liable for any loss or damage “arising out of any improper, fraudulent access, […]
Reiterating its commitment to give back what was lost due to the online hacking incident, BDO issued a new statement, saying that they are “processing the reimbursement of close to 700 clients affected by the recent online fraudulent transactions.” While we’re not sure how many were affected by the online hacking incident, but BDO’s figure […]
After a chaotic weekend that involved multiple BDO users losing their money in a hacking incident, partylist group Bayan Muna filed a house resolution calling Congress, specifically the Committee on Banks and Financial Intermediaries, to investigate the incident. In its house resolution filing, Bayan Muna explains that “Congress should protect the welfare of the Filipino […]
(UPDATE) BDO issued a new statement, explaining that they are aware of the sophisticated fraud technique that was done to their system. Aside from requiring all of their users to change their passwords, they assure that they will reimburse the losses of affected clients. After multiple users reportedly lost large amounts of money to an […]
NordPass, a password manager application, is once again revealing the most common passwords of the year. However, this is not to leak your password or to help hackers, but to educate people on the importance of using strong passwords. Check out the list of the most common passwords not just in the Philippines but also […]
After warning the public against rampant online phishing, the Bankers Association of the Philippines (BAP) is now reminding the public to keep their account details safe and secure to avoid becoming victims of cyber scammers. According to the organization, over P1 billion was lost this year due to cyber scams. The most rampant of which […]
As the country has to deal with the surge of scammers and cybercrime incidents, PLDT and Smart revealed their latest efforts towards thwarting them. This includes PLDT blocking at least 15,000 suspicious mobile numbers and at least 60 web domains that are directly involved with the job offering SMS scam. To recap, this scam involves […]
Now that the Christmas season is coming, scams in digital transactions are becoming more rampant. This is why banks are pushing for the mandatory phone registration more than ever. According to the Bankers Association of the Philippines (BAP), mandatory registration of mobile phones will decrease cybercrimes such as fraud and identity theft. Ramon Jocson, vice-chairperson […]
With the fast-paced digitalization of the economy, the government reiterated that it has to be stricter with monitoring the operations of all fintech firms in the country. “All the regulators and the tax authorities are focusing now on the digital space, because there’s a very big danger of fraud, of violations of the laws in the […]
In early 2019, President Rodrigo Duterte signed into law Republic Act No. 11202 otherwise known as the “Mobile Number Portability Act.” The act simply allows mobile postpaid or prepaid subscribers to retain their existing mobile number, despite having moved from one mobile service provider to another or to change the type of subscription—postpaid or prepaid. […]
It’s only a matter of time until the “Financial Consumer Protection Act” becomes a law. According to Bangko Sentral ng Pilipinas (BSP), this act will protect Filipinos from usual threats and harassment employed by credit card firms, among others. In June last year, the House of Representatives approved the third and final reading of House […]
Now that we have talked about all the basics you need to know about Axie Infinity and the rather complicated process of cashing in and cashing out your earnings, we tackle one of the bigger questions: is Axie Infinity legit AND a sustainable business model? Beyond the media coverage on how it has helped a […]