Landbank: teachers who lost money fell victim to phishing scam

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MANILA, Philippines—Land Bank of the Philippines said Monday that teachers whose bank accounts had lost money had fallen victim to a phishing scam despite its “safe” systems.

READ: Some teachers lose P26K to P121K each in alleged bank hack – group

Phishing occurs when a bank customer receives an email urging the unsuspecting customer to click on an attachment or link, which in turn allows the savvy scammer to access victim’s bank details.

In many cases, phishing emails don’t look suspicious because scammers attempt to copy them or make them look like legitimate banking emails.

Following reports from the Teachers’ Dignity Coalition that some teachers lost between 26,000 and 121,000 pesos each after their Landbank accounts were allegedly hacked, the state-run lender said its systems “were not hacked and stay safe.”

“According to Landbank’s initial investigation, the teachers’ devices were hacked via phishing, which compromised their personal information,” it said in a statement.

“The bank has already contacted the affected customers and is working to resolve these isolated cases as soon as possible,” he added.

The lender called for vigilance against phishing and other online banking fraud. “Landbank reminds its customers to refrain from opening suspicious emails, links and attachments, and from sharing your account and personal information. Landbank official representatives will never request essential financial information from customers . »

Landbank said it maintains “the highest level of security in all of its systems” so customers’ accounts and personal information are protected.

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