Retiree loses over RM337,000 in Facebook investment scam
Authorities warn public to verify financial transactions as pensioner duped by fake online investment
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Abstract:The Philippine Chamber of Telecommunications Operators (PCTO) warns against a surge in scam messages bypassing network filters. Stay vigilant against digital scams.

The Philippine Chamber of Telecommunications Operators (PCTO) has issued a warning over an increase in scam texts coming from outside cellular networks. Froilan Castelo, President of the PCTO and General Counsel of Globe, said that these messages evade strong security procedures such as SIM registration and network filters meant to stop suspicious communications, especially those including web links.
“This new wave of scam messages is worrisome, as fraudsters have resorted to methods that do not pass through telco networks; thus, they can evade our already robust filters,” Castelo told reporters. He demonstrated how fraudsters utilize chat applications, Rich Communication Services (RCS) for Android users and other web-based messaging services to target victims.
The PCTO stressed the need for collaboration among industry stakeholders in countering this emerging danger. “Industry participants and important stakeholders must collaborate closely to fight this tendency. Let us concentrate on finding strategies to beat our mutual enemy: fraudsters,” Castelo said.

Scammers utilize foreign mobile numbers and sophisticated tactics such as International Mobile Subscriber Identity (IMSI) catchers or phony cell towers to target Filipino customers. These portable devices resemble cell towers and capture mobile communications in a specified region, enabling fraudsters to send messages with forged sender IDs, even those impersonating government accounts.
Castelo warned the public to exercise caution, especially when it comes to clickable links in unwanted communications. “At the end of the day, mobile users are their own best protection. Be wary of communications from unfamiliar numbers, and never click on any links inside unwanted messages. More often than not, these communications are intended to deceive you,” he said.
In addition to the rise in digital fraud, forex, and cryptocurrency trading scams have also increased significantly. Fraudsters are using these texts to attract people into bogus investment programs that promise big profits. These scams often take advantage of the absence of regulation in the digital currency arena, making it simpler for fraudsters to operate and harder for authorities to locate.
The PCTO, a non-profit organization with 14 founding members, is devoted to encouraging collaboration among telecommunications firms and other stakeholders to protect the public from such dangers. To tackle fraudsters' ever-changing techniques, the group is working to improve security measures and raise public awareness.

Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

Authorities warn public to verify financial transactions as pensioner duped by fake online investment

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