The Bangko Sentral ng Pilipinas (BSP) warned the public of common scams taking place across the country, including text scams, credit card and ATM skimming, Ponzi or pyramid schemes, fake investment proposals, and identity theft.

They also noted emails can be used in phishing scams, where bank account details and personal identification numbers are requested; spoofing, which utilizes fraudulent websites; and “Nigerian scams,” where a large sum of money is promised as long as the victim pays for a processing fee, or money is requested because a friend or family member is in a difficult situation.
BSP also highlighted the practice of “budol-budol,” when money and valuables are taken from victims; and “dugo-dugo,” where a relative is said to be in trouble or is hospitalized and urgently needs money.
The agency advises, when faced with a suspicious situation, to “stop, think, and be skeptical.”
When it comes to family members in need of help, BSP says to contact other family members to verify the claim. As for supposed investment opportunity, it is important to ensure the company being dealt with is legitimate.
BSP also advises not to pay for taxes or fees on winnings one never joined.
Legitimate promotions use three or four digit phone numbers, the agency added.
If dealing with an identity theft situation, contact the bank and or credit card issuer immediately./WDJ