MANILA - BDO Unibank said Wednesday consumers should be wary of scammers using SIM card-related scams to deceive and steal money.
Fraudster are using a sim-swapping modus guised as telecom agents and offering upgraded networks in exchange for SIM cards, the bank said in a statement.
Scammers also purchase 4G SIM cards, register the victim's mobile number and fool their victims into revealing their one-time pin (OTP), it said.
"In both modus operandi, scammers takeover their victims' mobile number to control their victims' online bank accounts," BDO said.
BDO said clients should call the customer service network and deactivate accounts if they get messages or emails of suspicious online transactions.
Consumers should never give out personal information, monitor email alerts for suspicious transactions and immediately report incidents, the bank said.
The Bangko Sentral ng Pilipinas earlier warned against a scam that dupes victims into swapping their SIM card in the guise of a fake promo.