Home News GM Bank is reminding you against NEW FORMS of financial crimes amidst COVID-19 pandemic
GM Bank is reminding you against NEW FORMS of financial crimes amidst COVID-19 pandemic


DONATIONS AND SECURITY SCAMS

Fundraising for fake charities or fraudulent donation drives for the needy and medical frontliners.



IMPOSTOR, INVESTMENT AND PRODUCT SCAMS
  • Impostor scams are executed by impersonating corporate executives and instructing emplyoees to perform financial transactions (e.g., fund transfers) or to disclose confidential information fraud).

  • Investment and product scams offer fraudulent haven investment opportunities to the public.

  • 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.



MONEY MULES

Money mules are persons recruited to lend their personal bank/e-money accounts to receive cash deposits/online transfers from illegal sources under the guise of "charity or COVID-19 donations".





ONLINE SEX TRAFFICKING AND EXPLOITATION

Fund transfers or digital payments for online sex trafficking or child exploitation especially during the community quarantine donations.


VEILED DONATIONS FOR TERRORISM AND TERRORISM FINANCING

Online donations solicited and collected by certain organizations or persons for COVID-19 purposes but in fact will be used to promote and finance terrorism.

** Please stay vigilant; kindly REPORT any new forms of COVID-19 financial crimes to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .


GM BANK IS ADVISING YOU TO BE AWARE OF INTERNET SCAMS DURING THIS COVID-19 PANDEMIC

WHAT TO DO?
  • DON’T LET YOURSELF FEEL PRESSURED INTO CLICKING A LINK IN AN EMAIL. Most importantly, don’t act on the advice you didn’t ask for and weren’t expecting

  • DON’T BE TAKEN IN BY THE SENDER’S NAME. Cyber threats say it comes from trusted sources like “World Health Organization”.

  • LOOK OUT FOR SPELLING AND GRAMMATICAL ERRORS. Not all crooks make mistakes, but MANY do. Take the extra time to review messages.

  • CHECK THE URL BEFORE YOU TYPE IT IN OR CLICK A LINK. Stay clear. Do your own research and make your choice about where to look.

  • NEVER ENTER DATA THAT A WEBSITE SHOULDN’T BE ASKING FOR. There is no reason for a health awareness web page to ask for your email address and password. If in doubt, don’t give it out.

  • IF YOU JUST REVEALED YOUR PASSWORD TO IMPOSTERS, CHANGE IT AS SOON AS YOU CAN. Crooks who run phishing sites typically try out stolen passwords immediately, the sooner you react, the more likely you will beat them to it.

  • NEVER USE THE SAME PASSWORD ON MORE THAN ONE SITE. Once crooks have a password, they will usually try it on every website where you might have an account.

  • REPORT any COVID-19 suspicious, phishing and spear-phishing emails, Covid-19 themed malicious websites to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Image source: bankinfosecurity.com
 
For concerns, please go to your branch of account or call our customer hotline at (044) 940-6165 or (0998) 847-4608 and with email address at customerconcerns@gmbank.com.ph.
GM Bank of Luzon, Inc. (A Rural Bank) is regulated by the Bangko Sentral ng Pilipinas with contact number (02) 8708-7087 and with e-mail address consumeraffairs@bsp.gov.ph.
GM Bank of Luzon Inc. © 2020. All Rights Reserved