BDO Private Bank Advisory

BDO Private Bank Advisory
With greater use of electronic channels to retrieve and send information, we would want to appraise you on the risk and threats associated with the use of these channels.  BDO Private Bank values your privacy and confidentiality, and these simple reminders will ensure that your personal data and information are protected and secured.

What is Phishing?
PHISHING, often used with a counterfeit email, is the act of sending an email claiming to be from a legitimate, trustworthy entity. It is meant to deceive the unsuspecting recipient into divulging confidential information such as password, credit card numbers, and bank account information after directing the user to visit a specified website. The website, no matter how similar it is to the real website, is not genuine and was set up only as an attempt to steal the recipient’s information.

How to Prevent Phishing Scams
A lot of phishing emails claim to come from legitimate sources or popular websites. The emails often ask the recipient to enter bank details or other personal information. There are also phishing scam websites which appear exactly like the original websites. Some of these fake websites are so well done that it’s quite impossible to tell them apart unless you look at the URL. Most of these fake websites redirect recipients to pages with spaces where they have to fill in essential financial information usually used to access bank accounts. Once the phishers get a hold of the information, they can carry out fraudulent monetary transactions. Sometimes, the website may ask you to fill in personal details like TIN number, driver’s license number, and other details which can be used to commit fraud in the person’s name.  

While phishing techniques are getting more sophisticated, there are many things which can be done to avoid phishing. Here are some of the anti-phishing techniques.

Check the email Carefully
A phishing email may claim to be from a legitimate company and when you click the link to the website, it may look exactly like the real website. Sometimes, the link may lead you to the privacy policy of the legitimate company or some irrelevant pages. The email may ask you to fill in the information but the email may not contain your name. Most phishing emails will start with “Dear Customer” so you should be alert when you come across these emails. You should know that a legitimate company will not send spam emails. The email may contain the names of fictional personnel who supposedly work in the legitimate company. These emails may have an alert notice for a quick response but you must know that it’s just another ploy to get vital information.

Never Enter Financial or Personal Information
Most of the phishing emails will direct you to pages where entries for financial or personal information are required. An Internet user should never make confidential entries through the links provided in the emails.

Identify a Fake Phone Call
Phone phishing is the method in which a phone call is made to the user for the purpose of stealing personal information. For instance, the user may be asked to provide financial details for the refund of money to an account. The phone call may come from a number which appears legitimate but the area code in the phone call can be modified using VOIP technology.

Protection through Software
Anti-spyware and firewall settings should be used to prevent phishing attacks and users should update the programs regularly. Firewall protection prevents access to malicious files by blocking the attacks. Antivirus software scans every file which comes through the Internet to your computer. It helps to prevent damage to your system.

Never Send Personal Information through emails
Never send an email with sensitive information to anyone. Make it a habit to check the address of the website. A secure website always starts with “https”.

Check Bank Details Regularly
To prevent bank phishing and credit card phishing scams, you should personally check your statements regularly. Get monthly statements for your financial accounts and check each and every entry carefully to ensure no fraudulent transactions have been made without your knowledge.

Never Download Files from Unreliable Sources
If you get a message stating a certain website may contain malicious files, do not open the website. Web browsers provide settings to prevent access to malicious web pages and when you try to access a malicious site, an alert message will appear. Never download files from suspicious emails or websites. Even search engines may show certain links which may lead users to a phishing webpage which offers low cost products. If the user makes purchases at such a website, the credit card details will be accessed by the phishers.

Official E-mail Communication
All our official communications are made through BDO Private Bank’s official email addresses, i.e. xxxxx@pb.bdo.com.ph, where xxxxx is either the name of the unit or the name of the bank personnel sending the email. If you are doubtful of the content of the email, you may call our Customer Service Officer, Ms. Michele Medina at 840-2451 or 

BDO Private Bank will not send advisory or announcements through public email addresses such as Yahoo, Hotmail, G-mail and etc.