As holidays beckon, bank clients reminded of anti-fraud steps


MANILA, Philippines—Last week, unknowing BDO Unibank account holders fell victims to an online banking scam, which resulted in huge monetary losses.

According to social media posts of some victims, they discovered that unauthorized fund transfers were made using their accounts to move money to a UnionBank of the Philippines (UBP) account of a certain “Mark Nagoyo.”

Some affected users likewise detailed that they suddenly received e-mail and text notifications about the unauthorized bank transfers made in their accounts.

A public group named “Mark Nagoyo BDO Hacked,” now with over 2,200 members, has been created following the incidents.

When translated into English, the word “nagoyo” means to make fool out of someone.

According to the Bangko Sentral ng Pilipinas (BSP), nearly 700 BDO accounts have been affected by the fraudulent transactions.

What we know so far

On Dec. 15, Henry Aguda, UBP’s chief technology and operations officer, confirmed that six “persons of interest” have been identified in relation to the cyber fraud attack against the banking giant.

“We’ve already identified persons of interest and we’ve already filed the necessary information with the PNP and the NBI,” Aguda said at a press briefing.

“We will be providing the necessary information to them as well as to the BSP,” he added.

According to Aguda, the UBP has already started collaborating closely with BDO.

“We are collaborating closely with BDO. In fact,…

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