Philippines, January 24, 2020 — cyberinktimes.com — The Central Bank of the Philippines, or “Bangko Sentral ng Pilipinas” (BSP) in Filipino translation, warned the public against fake designs of banknotes that were recently posted on social media. The BSP released an advisory on January 23 saying that the postings were made by an existing Facebook account with the user name “Bangko Sentral ng Pilipinas” that is not officially associated with them.
The advisory stated that images and information on Philippine currency posted in the account are false as they are clearly inconsistent with the features of genuine Philippine banknotes. The BSP has reported the fake account to Facebook and requested to have it taken down.
The BSP also warned against a fake Instagram account that bears its logo and uses the name “bangko_sentral_lottery”, which was confirmed as a scam. The public was urged not to share any information or transact through the unauthorized account. The BSP advised the public to follow only its existing and verified social media accounts for real updates and announcements, which can be found at https://www.facebook.com/BangkoSentralngPilipinas/ for Facebook, https://www.instagram.com/bangkosentral/ for Instagram, and https://twitter.com/BangkoSentral for Twitter.
The BSP’s warning is a reminder for the public to be vigilant and cautious when interacting with financial information online. The BSP has been working to protect consumers and maintain the integrity of the financial system.
The significance of the BSP’s warning highlights the importance of financial institutions being proactive in combating cybercrime and protecting consumers. The BSP’s actions serve as a reminder to financial institutions to prioritize consumer protection and education, and to work closely with social media platforms to prevent the spread of false information and fraudulent activities.
