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Beware of impostor, investment and product scam – BSP

March 14, 2021 Uncategorized

PASIG CITY, May 22 (PIA) – The Bangko Sentral ng Pilipinas (BSP) again warns the public of online scams that take advantage of the COVID-19 crisis. 

In an advisory, the BSP cited Impostor, Investment and Product Scam as among the COVID-19 financial crimes.

According to BSP, impostor scams are executed by impersonating corporate executives and instructing employees to perform financial transactions (e.g., fund transfers) or to disclose confidential information (“CEO fraud”).

While the investment and product scams offer fraudulent haven investment opportunities to the public. In other cases, the fraudster appears to be involved in the manufacture, sale or distribution of fake medicine, products or services, exploiting people in urgent need of care and promising COVID-19 cure.

The BSP also reminds the public and BSP-supervised financial institutions (BSFIs) to remain vigilant and to take necessary precautionary measures against these new patterns of criminal behavior as well as emerging typologies on money laundering/terrorism financing (ML/TF) activities and other financial crimes being perpetrated amid the COVID-19 pandemic.

For more information and updates, follow the official BSP Facebook page  https://www.facebook.com/BangkoSentralngPilipinas/ or visit their website at www.bsp.gov.ph. (BSP/PIA-NCR)

source https://pia.gov.ph/news/articles/1042559

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