LandBank ready to cooperate in NBI probe over phishing allegations

ABS-CBN News

Posted at Jan 29 2022 01:40 PM

The Land Bank of the Philippines on Saturday said it was ready to cooperate with the National Bureau of Investigation over allegations of phishing activities that have victimized teachers.

The company said it has coordinated with the Department of Education asking for a list of affected teachers.

“We will actively participate in this investigation and extend full cooperation to the NBI with the end in mind of further securing our depositors’ hard-earned money,” said LandBank president and CEO Cecilia C. Borromeo.

“We are also reaching out to the affected teachers and conducting an internal investigation on their complaints. In the meantime, we assure our clients and the general public that LandBank’s systems remain stable and secured.”

To strengthen its security, the bank said it would be requiring a client’s mobile number to receive one-time passwords to authenticate digital financial transactions when using the LandBank app or iAccess, instead of email.

In an order dated January 25, Justice Secretary Menardo Guevarra directed the NBI to "conduct an investigation and case build-up on alleged phishing schemes victimizing teachers with LandBank accounts."

The Teachers' Dignity Coalition, the educators' group that first raised concerns over the cybertheft incidents, said at least 20 DepEd personnel fell victim to the scheme.

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