This Saturday, December 11, many Filipino BDO users posted on their social media how their accounts had been illegally used to transfer money to the UnionBank account of a certain “Mark Nagoyo.” The said online scam started as early as thursday where thousands of pesos were processed without their knowledge. The financial institution stated that it will investigate the case and reimburse the affected consumers, they also reminded everyone of the ways in protecting their banking information. However, victims explained that they were careful of phishing links and did not share any of their vital banking information. So people are left wondering and terrified on how this actually happened? There are only 3 possible scenarios.
1. Hackers may have used vulnerabilities in your online transaction records with the bank
How to protect yourself/company: Make sure to only access legit links and email from your bank. Understand the game of how phishing works.
2. Hackers are using powerful tools to attack a bank’s vulnerable systems. Tools such as Malware, DDOS attack, Social Engineering, Trojan horses and web attacks.
How to protect yourself/company: Make sure to always secure your password and update them accordingly. Make sure your company’s IT department is doing periodic Vulnerability Assessment and Penetration Testings to sweep probable attackers. Ensure to take cybersecurity and data privacy training as often possible to get updates (https://bit.ly/3pQNHbd)
3. Fraudulent insiders within an organization or company typically get paid high amounts to leak information to professional hackers.
How to protect yourself/company: Make sure to do periodic and random background checks for both current and future employees/suppliers and business partners.
In light of the advancements in technology, companies and employees must address a slew of new security concerns in order to continue providing their customers with the best and safest services possible.
The latest PH Bank Scam points to an insider. This is certainly frightening but not new as hacking is usually assisted by someone familiar with systems on the inside. And it can happen to anyone, to you or your company. The only way to protect yourself and your company is to proactively apply cybersecurity controls and regular background checks.
One way to protect yourself and your company is to learn Cybersecurity and Data Privacy through this FREE mini-course. You can access it here: https://bit.ly/3pQNHbd#cyberattacks#dataprivacy#cybersecurity
Get a FREE copy of How to do Background Checks Correctly go here: https://www.vanguardscreen.com/background-checks/
Book a call and appointment with us at https://www.vanguardscreen.com/ and [email protected]