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Public warned against new scam using fake BSP documents

Central bank says it deals only with authorized or accredited counterparties
By: - Reporter / @daxinq
/ 05:35 AM June 29, 2018

The Bangko Sentral ng Pilipinas yesterday warned the public against unscrupulous parties using fraudulent loan documents, deposit certificates, fund transfer documents or other commercial papers allegedly issued, secured or guaranteed by the central bank.

In a statement, the BSP said the fraudsters—pretending to be authorized BSP officials—provide such documents to individuals, corporations or institutions.

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“Scammers claim such documents will facilitate financial transactions in favor of the recipients, in exchange for confidential personal or corporate information, and subject to fees or charges,” it said.

The central bank reminds the public that it does not issue or guarantee commercial documents or products like banking forms, fund transfer orders or certificates of deposit.

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The BSP also does not transact with individuals, corporations or institutions at random.

“[The BSP] deals only with authorized or accredited counterparties, mostly BSP-supervised institutions, duly recognized partners, and appropriately contracted suppliers or service providers,” it said.

It advised the public to beware of fake documents containing imitations of the BSP seal, logo and official-looking document formats; forged or digitally copied signatures of BSP officials, employees or consultants; as well as alleged BSP products, services, or partnership agreements offered by individuals or establishments posing as BSP officials, employees or consultants, whether in person or on social media.

“For your protection, do not believe claims of unexpected monetary gain,” it warned, urging the public to immediately report cases of such claims and suspicious documents or activities to its financial consumer protection Department at the BSP head office in Manila.

The BSP’s consumer assistance desk can be reached at (+632) 708-7087 or (02) 708-7701 local 2584, via e-mail at consumeraffairs@bsp.gov.ph

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TAGS: Bangko Sentral ng Pilipinas, fake BSP documents, scam
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