#online fraud

While the decentralized nature and anonymity of crypto are among its biggest strengths, it has also opened up opportunities for online fraud. In essence, the strategy in this particular incident was like this -- identify hackable online bank accounts (in this case, BDO), transfer funds to an intermediary bank where you can siphon money to a fictitious or dummy bank account (in this case, UnionBank) and then use the collected funds to buy crypto-currency (in this case, Bitcoin). Survey showed that online fraud could happen to one in every ten people, and there’s a chance you can be an unsuspecting victim. We’ve had our fair share of fraud incidents and consistent attempts at breaching some of our critical online accounts – Gmail, Paypal, online banking and much more. Here are four sure signs that will help tell you if your online accounts have been compromised. Online Bank Accounts or Credit Cards Unauthorized purchases. We're working with Globe Telecom on a series of #makeITsafePH articles and guides to help you be more informed and attentive when logging online. More #makeITsafePH security tips: 5 ways to spot a Phishing Site from a Mile Away 10 Email Tips to Keep Away from Spam How to Manage Internet Use for your Children How to Clean your PC from Malware 6 Internet Security Tips in The Workplace How to Keep Safe when using Public or Free WiFi 4 Signs Your Online Accounts May Have Been Compromised Read more in our articles including "Crypto has made hacking online banks more rewarding" and "4 Signs Your Online Accounts May Have Been Compromised".