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Philippines central bank proposes measures to counter phishing schemes

The Bangko Sentral ng Pilipinas (BSP) has proposed measures to counter aggressive phishing schemes. The BSP said banks should remove clickable links in emails and messages sent to retail clients. This should be complemented by a campaign to ensure users know that clickable links have been phased out. The central bank said financial institutions should also have a customer notification measure coursed through mobile or email whenever there is a request to change a mobile number, e-mail address, or account credential. Sending personalised one-time personal identification number (PIN) messages to clients for services like device registration, fund transfer, and profile update, among others, were also suggested. The BSP told banks to boost their efforts to prevent phishing attacks that have led to losses for their clients amid the rise in digital transactions.


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