Financial Blog


Don’t get Scammed! Here’s How to Avoid Online Scams in 2021

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Nobody likes getting scammed, but not everyone knows how to identify or secure themselves from it. Technology give us to improve the quality of everyday life. More importantly, it lets us avoid face-to-face transactions with online or cashless transactions, which have been boons during this Pandemic. But as with all things, there’s a good and a bad side to everything. We need to be aware of this kind of tactic to avoid online scams. By doing some research, we can gain some tips to prevent it.

Online scams in the Philippines are on the rise, based on the latest data from the Philippine National Police Anti-Cybercrime Group. Common complaints are from victims of online shopping and online banking scams. Combined with the sense of confinement and fear from the Pandemic, cybercriminals have been taking advantage of the situation.

How to Avoid Online Scams and Online Banking Scams?

An Online Scammer pretends to be a legitimate seller using fake ads on an authentic e-commerce platform, social media site, or a fake website. While most online scammers are easily spotters and there are some a little more clever.

While Online Banking is convenient, it also comes with certain risks. The money you’ve worked hard for, could disappear in an instant the moment a hacker gains access to your bank account. If that the case, the first step to avoid online scams is to know what to avoid.

Two common Online Banking Scams:

ATM skimming
Email Phishing

1. ATM Skimming

Also called card skimming or data skimming, ATM skimming involves copying a bank accountholder’s personal information from the magnetic stripe on the back of an ATM card or credit card. They use illegal skimming devices to steal the details in it, making a fake or cloned card to access the owner’s bank account and complete banking transactions like cash withdrawals and fund transfers.

2. Email Phishing

Did you ever receive an email supposedly from your bank that asks you to confirm your account information by clicking on a link? Beware of this sign of email phishing. This illegal activity can trick you into filling out a form with your important details such as your credit\debit card info., and other sensitive details via a fake website that looks like your online banking facility which aims to get your data.

How to Avoid Skimming and Phishing:

    • Check if the website or store is legitimate and secured
    • Don’t share your personal and bank details to anyone
    • Protect your password and PIN
    • Learn how to spot an online scammer;

– Products with incredibly low prices compared to other online shopping sites, especially for high-end brands – Inconsistent answers on questions about the product
– Insisting on immediate payment before sending the order
– Asking customers to deposit payment directly to a bank account or mobile wallet account instead of going through the online shopping site’s preferred payment method

    • Verify the product and the seller (especially if it’s too good to be true)
    • Use a secure payment method (Cash on delivery, PayPal, Credit card)
    • Always monitor your Bank statements or transaction history using our Online Banking via mobile app or login through our website
    • Protect your gadgets such as laptop\computer and mobile phones from viruses and malicious programs;

– Avoid using public Wi-Fi or hotspots
– Avoid opening suspicious emails on your device
– Maintain your device’s security
– Install antivirus software
– Don’t sideload apps/only download from official apps Stores
– Regularly apply and check the updates

  • Be vigilant always–think twice before sharing any personal or payment information

If you already suspect that your account may have been compromised, please inform your bank/e-wallet provider immediately to prevent further harm. For Security Bank clients, please call or visit any Security Bank near you immediately to report the incident.

You may also call our customer hotline at (02) 887-9188 for account or transaction verification and lost card tagging, if necessary. Our staff will be able to tag your card immediately and you can be assured that it is secured, and no one may access your account through the said card.

Avoid online scams! Check out and be familiarized with our bank services accessible online (SBOL), you may visit our website

We hope you find the above information useful.



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