RCBC sees emergence of new fraud types

Defining the News

Fraudsters, disguised as valid merchants on e-commerce sites and platforms, are now scamming online users.

Carlos Tengkiat, chief information security officer of the Rizal Commercial Banking Corporation , cautioned that millions of pesos can potentially be lost as online commerce expands. For instance, fraudsters might access a list of compromised email addresses and passwords from a previous data breach and then use that information to attempt logins on various platforms, hoping some individuals have reused their credentials. Once they gain access, they can make unauthorized purchases, transfer funds, or even lock out the legitimate users.

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MlaStandard /  🏆 20. in PH

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