Banking Security 101

EastWest Peso Money Market Fund

Fraud and Scam Alert

Skimming

Skimming is a fraudulent attempt to steal your card information using a device – called a skimmer – that is illegally installed in ATMs and card swipe mechanisms. A skimmer either captures your PIN or the information stored in your card’s magnetic strip. Your information is then used by thieves to make unauthorized transactions, create counterfeit cards, or empty your account funds by withdrawing your money through an ATM. Here are some tips to avoid becoming a victim of skimming:

  • Know where you shop. Always be vigilant and keep an eye on your card at all times.
  • Before using an ATM, check for anything suspicious like wobbly keypad, card slot or cash dispenser. Also check for tiny cameras that may be installed on the underside of a PIN pad cover. If anything seems odd about an ATM, don’t use it.
  • Cover your hand as you enter your PIN.

Phishing / Pharming

Phishing is a scam wherein cyber criminals use deceptive emails and fake websites to steal your personal information, while pharming involves secretly planting a malicious code in your computer to redirect clicks you make on a website to another fraudulent website without your consent or knowledge. Any personal information you provide, such as your password or account number, can be stolen and fraudulently used.

Protect yourself from phishing and pharming attacks by taking these precautions:

  • Be wary of anything “phishy”. The most common form of phishing is emails pretending to be from a legitimate bank, retailer, etc. asking you to "confirm" your personal information for some made-up reason, like your information has been lost because of a computer problem or your account is about to be closed. Delete such emails immediately.
  • Use spam filter wisely. This feature can help sort legitimate from fraudulent emails.
  • Only open email attachments if you're expecting them and know what they contain. Email from unknown senders could be from scammers and contain programs that will steal your personal information.
  • Secure your computer and internet connection. Install current versions of virus detection software, firewalls and spyware scanning tools. Regularly update these tools to combat new threats.
  • Be careful when entering financial information on a Website. Look for the ‘s’ in https and the key or lock symbol. If the website looks different than when you last visited, be suspicious and don’t click unless you are sure the site is safe.

Vishing / Smishing

Vishing is the telephone version of phishing, while smishing is the SMS or text version. Scammers may call you on the phone or send you a text message to trick you into providing confidential information to gain access to your accounts. Here are tips to avoid being fooled by a vishing or smishing attempt:

  • Be suspicious of any out-of-the-ordinary calls or texts, especially those that want you to divulge confidential information like your account number, username, password, etc. EastWest or any other financial institution will not ask for confidential information through phone calls or in any other way.
  • Don’t respond to any of these types of calls or texts regardless of how frightening or urgent it seems. Fraudsters often rely on shock and urgency to spur you to react instantly.
  • Never click on links contained in the message. Doing so could release a virus on your phone or even download mobile spyware that enables the sender to eavesdrop on your conversations.
  • If you receive a phone call asking you to call a certain number and you suspect it might be a fraudulent request, look up the company’s customer service number and call that number rather than the number provided in the solicitation phone call.

Malware / Ransonware

Malware tricks you into installing software that allows scammers to access your files and track what you are doing, while ransomware demands payment to ‘unlock’ your computer or files. Here are tips to keep your computer/mobile device from getting infected:

  • Don’t let your operating system, web browser, or security software get out-of-date. Criminals could sneak their bad programs onto your computer and use it to secretly break into other computers, send spam, or spy on your online activities.
  • Scan your computer with updated anti-malware software.
  • Avoid opening emails from unknown senders. Unknown senders may use the email links, attachments, and images in the body of the message to download malware to your computer.
  • Be wary of free downloads and website access, such as music, games, movies and adult sites. They may install harmful programs without you knowing.
  • Use your security software to run a virus check if you think your computer’s security has been compromised. If you still have doubts, contact your anti-virus software provider or a computer specialist.
  • Change passwords and back up your data regularly.

Text scams

Protect yourself from text scammers who send messages that you have won a prize or you get a free item and then asks you to text or call in your account number. Here are some tips to avoid being victimized:

  • Check the sender’s number. Legitimate promos use 3 or 4 digits. If the sender uses a 12-digit number, this is most likely a scam.
  • Don’t respond to such a text and delete the message immediately.
  • Verify with DTI. Visit www.dtincr.ph or call DTI Direct at (+632) 751 3330 and validate the promo.
  • Report to NTC. Report the message and mobile number to the NTC at (+632) 926 7722

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Lost/stolen card or compromised account? Immediately report the loss/theft of your EastWest Debit, Prepaid or Credit card or any problem with your cards or your accounts, including transactions you have not unauthorized, to EastWest’s 24/7 Customer Service Hotline:

Metro Manila: 888-1700
Domestic Toll-Free: 1-800-1888-8600