{"id":62867,"date":"2024-04-23T16:46:52","date_gmt":"2024-04-23T08:46:52","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=62867"},"modified":"2024-04-23T16:46:56","modified_gmt":"2024-04-23T08:46:56","slug":"rcbc-urges-public-vigilance-amid-escalating-scam-threats","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2024\/04\/23\/rcbc-urges-public-vigilance-amid-escalating-scam-threats\/","title":{"rendered":"RCBC urges public vigilance amid escalating scam threats"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Rizal Commercial Banking Corporation (RCBC) continues to remind the public to remain vigilant and cautious in response to the surge in spoofing scams targeting banking customers.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Spoofing scams, orchestrated by sophisticated cybercriminals, mimic legitimate communication from the bank to deceive unsuspecting victims into disclosing sensitive personal information, including login credentials and banking details.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jericho Konrad Uy, head of RCBC\u2019s Enterprise Fraud Risk Division, emphasized the gravity of the situation, stressing the need for enhanced awareness and stringent security measures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This reminder from RCBC came amid a worsening state of scams not only in the Philippines but also across the Asia Pacific region. According to Global Anti-Scam Alliance and Feedzai, approximately 621,872 Singaporeans aged over 18 have fallen victim to scams last year, resulting in a total loss of $2.5 billion, equivalent to 0.5 percent of the nation&#8217;s gross domestic product (GDP).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Earlier, too, the Australian Competition and Consumer Commission reported losses to spoofing scams of over $6.3 million as of March this year, and billions more in 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite efforts by telcos to filter phishing links in SMS messages, scams are still proliferating on social media and messaging apps.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To deal with the ever-changing environment of cyber threats and fraud, RCBC is constantly on the lookout for better ways to do things and new security solutions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe also work closely with telcos, other banks, and government agencies. This close collaboration helps us report scams efficiently and try to recover money back for our customers,\u201d Uy said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Carlos Tengkiat, RCBC Chief Information Security Officer, said RCBC also utilizes threat intelligence and social media monitoring, which allows the bank to respond to different scams promptly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe have proactively hardened our mobile and web applications, and the inclusion of procedures and technical controls ensures the prevention and reduction of successful frauds and scams,\u201d he further said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jericho Konrad Uy, head of RCBC\u2019s Enterprise Fraud Risk Division, emphasized the gravity of the situation, stressing the need for enhanced awareness and stringent security measures.<\/p>\n","protected":false},"author":6,"featured_media":55623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[286,1717,54,2103],"class_list":["post-62867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-it-security","tag-rcbc","tag-security","tag-security-breach"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/62867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=62867"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/62867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/55623"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=62867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=62867"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=62867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}