FRAUD & SCAM
PREVENTION
Financial Fraud
Investment Scam
A wrongful or criminal act,
resulting to a victim’s financial
loss
A dishonest, illegal scheme for
making money, one that
involves swindling or tricking
victims
Common Types of
Card replacement ATM Skimming
Card cloning ATM Jackpotting
Unauthorized financial transactions made on a victim’s account
ATM Skimming, Jackpotting
Illegal installation of malicious hardware
(e.g. camera, scanning device) and/or
software in ATMs or POS devices
Scanning device copies card information
to create counterfeit or clone cards
Camera captures PIN information,
allowing access to accounts
Jackpotting software gives hackers
control over ATM functions
4
ATM Skimming Devices
5
ATM Skimming Devices
Protect Yourself from Skimming
✔ Make sure that your ATM card, debit card and/and or credit card is
equipped with an EMV chip.
✔ Observe and remember the standard appearance of ATM machines
and POS devices.
✔ If an ATM does not have a keypad shield, cover the keypad while
entering your PIN.
✔ Withdraw only in trusted, well-lighted ATM locations. If uncomfortable,
postpone your transaction or find a more secure location.
✔ If transacting with merchant using a POS device, keep an eye on your
card and the cashier.
✔ Regularly check your account balance and/or billing statements.
Report unauthorized or suspicious transactions to your bank or
credit card issuer immediately.
Identity Theft
Root cause of fraudulent financial transactions
of victim’s personal committed using
and account stolen information
information to access victim’s
account
Keep account info confidential.
Protect your personal data.
Common Modes of Identity Theft
Phishing Vishing SMiShing
Shoulder Surfing Dumpster Diving Spoofing
Have you seen a phishing email?
From: xyzbank@[Link] suspicious looking email address
misspellings and
Dear Internet Banking Customer, generic greeting sometimes bad
grammar
We have detected an unauthorized
transaction from your internit banking account. In
order to ensure that your acount is safe and secure
please click here an update your account
immediately. link to spoofed website
sense of urgency
We hope to serve you better.
no contact information
Regards,
XYZ Bank Internet Banking Help Desk
How
about Attachment that
contains malware
this Generic greeting
email?
Deactivation scare to
prompt you to act quickly
Chatbox Activity: Is this a phishing email?
a. Yes
b. No
c. I don’t know
Please type your
answer in the chatbox
Sample phishing email
Chatbox Activity: Is this a phishing email?
a. Yes
b. No
c. I don’t know
Please type your
answer in the chatbox
Sub-categories of phishing
Pharming – manipulation of Domain Name
Server (DNS)
Spear phishing – highly targeted attacks
SMiShing – uses SMS on mobile phones
Vishing – leverages Internet Protocol (IP)
based voice calling
15
Vishing
Caller claims to represent a
financial institution
Caller creates a sense of urgency
Caller asks for personal
information
16
Sample of SMiShing
link to spoofed website
17
Chatbox Activity: Is this SMiShing?
a. Yes
b. No
c. I don’t know
Please type your
answer in the
chatbox
18
Sample of SMiShing
19
Have you seen a spoofed website?
The correct PayPal url or website
address is: [Link]
How to check if a website is fake?
NOT PayPal
NOT Encrypted!
Be wary of emails, calls, or text
Protect messages that…
yourself
from Ask for your personal information
phishing Have a generic greeting, misspelling
and or bad grammar
spoofing! Are unexpected or not typically received
Link you to another website
Does not give you full contact
details of the sender
Chatbox Activity: What will you do if you received
this email?
a. Click the link to
verify my account
b. Verify with my
bank by calling its
hotline directly
Please type your
answer in the
chatbox
When you encounter phishing
or spoofing…
• Verify with your bank by
calling its hotline directly.
• Report the phishing and
spoofing attempts to your
bank immediately!
Safeguard your gadgets
Update security and anti-virus features. Upgrade
operating systems and apps.
Download only the legitimate banking apps and
online shopping apps.
Do not download and install suspicious software, files
and email attachments.
Do not use jailbroken or rooted mobile phones or
gadgets.
Do not let other people use your gadgets.
Secure your connectivity
Avoid using public computers and free WiFi
connections.
Set your WiFi router to the highest security settings.
Enable router firewall and encryption.
Reduce your WiFi signal range.
Secure your online activity
Type the address or url directly on the address bar.
Make sure the website is secure and legitimate
(“https”).
Clear your browsing history or cache regularly.
Disable plug-ins, and the “Save passwords” feature.
Always log-out from websites and apps
after every use.
Protect your online transactions
Transact only with legitimate and trustworthy online vendors.
Activate a 2-step verification process or multi-factor
authentication.
Keep transaction records and regularly review your
transaction history.
Enable text or email alerts for any activity on your accounts.
Report suspicious account activity to your bank immediately.
Do not share account and personal information (e.g., account
number, card number, full name, passwords, PIN, CVV) with
anyone.
Chatbox Activity
The best way to create a strong password is to use:
a. Your initials, or birthday, or your mother’s maiden name
b. PassWord12345
c. Capital and small letters, with numerals and symbols, in a
combination that only you can remember
d. Same passwords for all accounts, including email and social
media
e. A list of passwords written on a piece of paper
Common Types of
Text Unexpected Romance Threat,
Scams Money Scam Scam Extortion
Scam
Chatbox Activity: Is this a scam?
a. Yes
b. No
c. I don’t know
Please type your
answer in the
chatbox
31
Chatbox Activity: Is this a scam?
Answer:
YES
A Romance Scam
32
Common Types of
Donation, Travel Job Offer Unexpected
Charity Scam Troubles Scam Scam Prize Scam
During This Pandemic
Money Mules Sim Swap Bogus Online Advance
Scam Scam Seller/Agent Fee
Investment Scams
No legitimate
businesses or
PONZI PYRAMID investments
SCAM SCAM
Main source of
funds are money
from new
recruits or
investors
Ponzi Pyramid
Focus on cash investment Focus on products and
and recruitment recruitment
Promises high interest/return Products have
on investment within a short little or no real value
time period
Members are
Earns from cash investment compensated
paid by new recruits based on new
recruits and
downlines
Chatbox Activity
Is multi-level marketing a pyramid
scam?
a. Yes
b. No
c. It depends on certain factors
d. I don’t know
Multi Level Marketing
DSAP 8-Point Test
If the answer to any of
the questions is NO, it
might be a SCAM!
Source: Direct Selling Association of the Philippines
Protect yourself from
investment scams!
Do not believe offers that are too good to be true (e.g.,
double your money, no risk, returns guaranteed).
Check if company is licensed by the Securities and
Exchange Commission (SEC). Report suspicious
companies to SEC.
Verify if investment product being sold is also licensed
by SEC (secondary license). Report suspicious
investment products and activities to SEC.
Always remember…
Protect your personal and account
information.
Report suspicious account transactions to
your Financial Institution immediately.
Offers that are too good to be true, are
usually not true.
Report suspicious investment schemes
to SEC and/or NBI.
