The recent attack on the BDO company has been a huge issue in the Philippines. The repercussions have been felt not just by those within the organization but also by its clients and partners. Let’s discuss what happened, why it was so damaging, and how to prevent future attacks from happening again.
BDO Unibank Provides Assurance To 700 Affected Clients
BDO account holders have recently been victims of hacking. The bank has released a statement assuring its customers that the issue will be resolved soon and their money is safe in BDO accounts for now.
As one of the largest banks in Southeast Asia, it’s no surprise that they were targeted by hackers again this past week after two other attacks in December 2016 and January 2017. This time, the hackers were able to get their hands on the personal information of BDO clients, transferring funds ranging from Php 25,000 to Php 50,000.
With its 10-year-old security system, it’s no wonder that BDO was an easy target for these hackers. However, this latest attack is not the first time the bank has been compromised– back in 2016, and they were also hacked and lost millions of pesos to scammers.
This most recent incident is a massive blow to the bank and its clients. Account-holders take into social media their frustrations, wondering how this could happen again and what can be done to make sure it doesn’t.
How To Protect Your Accounts And Money From Hacking Scams
The first thing you should do is monitor your bank account for any unusual activity. Check if suspicious charges are being made on your card or if money was transferred without your knowledge.
If you see any unauthorized charges, contact your bank immediately and ask them to block the card. You can also choose to transfer all of your money to a new account for added security.
Another way to protect yourself from being hacked is by using strong passwords that are difficult to guess. Make sure not to use easily guessed words like your name, names of family members, and birthdays. Instead, use a mix of upper and lowercase letters and numbers or symbols to make it more difficult for hackers to guess the password correctly.
If you have any fears about whether or not someone has access to your account, contact BDO immediately so that they can help you resolve the issue. The bank has already announced that it will be providing free credit monitoring for all of its clients who have been affected by the recent hacking scam.
This latest attack is a stark reminder that we need to be more careful about our online security and take steps to protect ourselves from being scammed. BSP is also investigating, and BDO management is now working to return funds stolen from clients and improve the security of their systems. Let’s hope that these measures will be enough to prevent future attacks.
Statement from BDO
The Hackers May Have Been After Credit Card Data
While it’s still unclear why the hackers specifically targeted BDO customers, many experts believe that they may have been after credit card data.
One of the most common ways that hackers steal money is by stealing your personal information, which they can use to access all your accounts and transfer funds out of them. They may also be able to get their hands on any other sensitive financial documents or records you have saved in your account. However, if they’re after credit card details, that may be a much easier way for them to take your money.
Hackers can easily use this information to purchase products or services from retailers and make unauthorized charges on your account. If the hackers could get their hands on enough financial data, they might even try selling it off in bulk! With people’s financial information being sold online for pretty cheap, it’s essential to take precautions against this type of attack.
Get in touch with the following information if you have concerns or issues with your account:
Note: Always check whether the Facebook account is verified. Look for the blue check mark.
How To Prevent This Incident From Happening Again?
To prevent this from happening again, we all must take responsibility for our security. You can do this by checking your statements regularly and reporting any suspicious charges or unusual activity as soon as possible. Also, make sure to keep a close eye on all of your accounts if there are attempts to hack into them.
While online banking provides comfort and convenience, it also comes with several risks. If you want to protect yourself from online hacking scams and other types of cybercrimes, make sure that your passwords are difficult to guess and update all software regularly to minimize the risk of being attacked by hackers. Many financial institutions now also provide security features such as two-factor authentication.