NEWS
Cybercriminals continue to prey on Filipino job-seekers. Here’s why
May 30, 2022 2:42 p.m.
If money is what motivates cybercriminals to trick, swindle and steal, then why are they targeting job-seekers who are supposedly income-less and are themselves in need of money?
Job scams have been around for a long time. But it’s getting extra attention lately as Filipinos report receiving way more job invitations through text messages than ever before. These unsolicited job offers promise unbelievably generous earnings in exchange for seemingly easy work that is too tempting to not even try.
Smishing examples
Official statistics reveal that as of March 2022, there are 3.13 million unemployed Filipinos and 7.42 million underemployed or those who have jobs but are still looking for other sources of income.
According to a job report, about 49% of Filipinos are now keen to work remotely due to pandemic concerns such as health and safety. For scammers, this is a goldmine they just wouldn’t miss taking advantage of.
Personal information such as name, birthday, phone number, email address are already valuable — it can actually cost up to $10 on the dark web, according to Kaspersky data.
Once in the hands of fake job recruiters a.k.a. cybercriminals, these data can then be sold or traded to other cybercriminals or companies.
Scammers will also use these data to commit other cybercrimes such as identity theft or to infect your device with malicious software (malware) to steal more data stored in it.
Cybercriminals also play on a job seeker’s desperation to make money immediately. In the Philippines, most job scams include having the victim send money to the fake recruiter to pay for “registration fees” or to get “commissions” or “bonuses” with higher returns as long as the victim tops up.
“By now, people are already aware of the standard red flags of fake job offers sent via email such as the sender’s address, layout, etc. More or less we know how to recognize and avoid it so scammers have changed their delivery mode to text/SMS,” said Yeo Siang Tiong, general manager for Southeast Asia at Kaspersky.
“There is also a lowered expectation of danger in text messages so it’s less scrutinized by the receiver, which means the scam is likely to succeed. When an unsuspecting person gets a message like a job offer with an irresistible pay, she is likely to disregard her mental checklist of warning signs and just click through,” he added.
Yeo also advises companies to take necessary measures to protect their brand and reputation from scammers who exploit their corporate identity and information for fake job offers.
Possible reputational losses can be avoided by having the company website, which lists contact details (such as for HR), audited for vulnerabilities.
Kaspersky offers the following tips to job-hunters to help you avoid falling victim to this kind of scam:
- Limit job searches to official sources.
- Do not respond nor click on links if they come from people or organizations you don’t know. Replying simply confirms to the sender that your phone number is active.
- Install a trusted security solution with fraud and phishing protection and follow its recommendations. This will solve most of the problems automatically and alert you if necessary. Remember, personal vigilance is not enough when dealing with sophisticated scam methods used by cybercriminals.
- Use multi-factor authentication (MFA). A common variant is a two-factor authentication (2FA) which often uses a text message verification code while a stronger variant includes using a dedicated app for verification (like Google Authenticator).
- Check the company’s official website for open vacancies matching your job skills.
- Check contact information on companies’ official websites. If needed, send an email to the company to verify if the person who contacted you actually works there.
- Be wary of offers to discuss a job or hold an interview in secret chats where messages are encrypted, cannot be forwarded and which alerts the participants if anyone takes a screenshot.
- Make an additional phone call to the company to ensure that the job offer is legitimate.
- Review your job offer for possible mistakes: carefully check the company name or job title and responsibilities.
- Report all SMS phishing attempts to designated authorities.
What to do if you become a victim? Limit the damage with these important steps:
1. Report to any institutions that could assist.
2. Change all passwords and account PINs where possible.
3. Monitor finances, credit and other online accounts for strange login locations and other activities.
NEWS
Cebuana Lhuillier ventures into future of payments at Plan B Forum in Lugano, Switzerland
10:40 p.m. December 30, 2024
Cebuana Lhuillier, the Philippines’ leading microfinance institution, is stepping into the future of payments by exploring innovative blockchain solutions.
This initiative underscores the company’s commitment to financial inclusion and its strategic move towards adopting digital technologies. Senior Executive Vice President Philippe Andre Lhuillier attended the prestigious Plan B Forum in Lugano, Switzerland, where financial leaders and innovators gathered to discuss the next evolution in payments, blockchain, and digital finance.
A Global Stage for Financial Innovation
The Plan B Forum serves as a vital platform for thought leaders to explore the future of blockchain and digital currencies in the global economy. With a focus on the growing impact of decentralized finance (DeFi), stablecoins, and digital currencies, the forum highlights how emerging technologies are reshaping the landscape of financial services. Cebuana Lhuillier’s participation signifies its drive to stay ahead of technological advancements that can reshape and bridge TradFi and DeFi in the Philippines.
The event was attended by some of the prominent names in the digital currency space, demonstrating Cebuana’s commitment to industry and reinforcing its role in shaping the crypto landscape.
Cebuana Lhuillier: Championing Financial Inclusion in the Digital Space
Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier, highlights the company’s growing focus on digital transformation. “As Cebuana Lhuillier continues to expand in the digital space, it aims to enhance payment services by adopting stablecoins and partnering with innovative digital solutions companies. These technologies promise faster, more affordable, and secure transactions for Filipinos, offering a modern way to manage payments with greater transparency and ease.”
Following this, Cebuana Lhuillier Senior Executive Vice President Philippe Andre Lhuillier added, “Blockchain technology and digital currencies are not just tools for innovation; they are vehicles for empowerment. By leveraging these technologies, we can democratize access to financial services, enabling Filipinos from all walks of life to participate in a global digital economy.”
This move reflects Cebuana Lhuillier’s commitment to providing reliable financial services that cater to the evolving needs of its customers across the country.
In representing Cebuana Lhuillier at the forum, Philippe Andre Lhuillier emphasized the importance of financial inclusion in the digital age. In an era where internet access and digital infrastructure are rapidly expanding, especially with advancements in web3 technologies, it set the stage that highlighted the importance of emerging payments in the web3 space and the role of Cebuana Lhuillier in bridging this technology with traditional finance.
Cebuana Lhuillier’s participation at the forum reinforces its commitment to financial inclusion. By incorporating digital wallets, blockchain technology, and digital currencies, the company aims to expand access to financial services, beyond traditional finance.
President and CEO Jean Henri Lhuillier remarked “With the evolution of financial landscapes, Cebuana Lhuillier is positioning itself at the forefront of digital transformation in the Philippines. By attending the Plan B Forum, the company is not only seeking to learn from global leaders but is also reaffirming its role as a key player in the future of payments and financial inclusion. Philippe Andre Lhuillier’s participation marks a critical step towards realizing Cebuana Lhuillier’s vision of becoming a fully integrated financial service provider that leverages cutting-edge technology.”
As blockchain and digital cryptocurrency technologies continue to grow, Cebuana Lhuillier is well-positioned to lead the way in providing innovative financial services.
NEWS
InLife wins Best in Future of Intelligence Award at IDC Future Enterprise Awards 2024
3:30 p.m. December 25, 2024
Insular Life (InLife) received the Best in Future of Intelligence Award – Philippines during the IDC (International Data Corporation) Future Enterprise Awards 2024 held at the Sands Expo and Convention Centre in Singapore on November 18, 2024.
The award recognizes InLife’s Agile Academy, a transformative initiative aimed at fostering an Agile mindset among InLife employees, or InLifers.
Through bootcamps, masterclasses, workshops, and curated resources, the Agile Academy empowers InLifers to tackle organizational challenges with innovative solutions, contributing to the company’s business and digital transformation journey.
At the heart of the Agile Academy are the Mission-Based Teams (MBTs)—cross-functional, user-centric, and self-organizing groups that leverage the Agile framework to address critical customer and enterprise issues.
To date, the Agile Academy has activated 21 MBTs, resulting in innovations like the InLife App, a mobile and web application for managing life insurance policies; and the InLife Compass Super App, designed to boost the productivity of InLife financial advisors. MBTs have also developed solutions addressing pain points of Gen Zs, Group account holders, and the silver generation, demonstrating InLife’s customer-centric and inclusive approach.
“InLife’s recognition at the IDC Future Enterprise Awards reaffirms our commitment to continuous innovation and transformation in service of our customers,” said InLife Chief Transformation Officer Efren C. Caringal, Jr. “At 114 years, InLife remains true to its pioneering spirit, leveraging initiatives like the Agile Academy to deliver meaningful solutions that benefit our policyholders and other stakeholders.”
The IDC Future Enterprise Awards recognize organizations that lead the way in digital transformation, demonstrating resilience, and a commitment to enhanced customer experiences.
NEWS
Converge engages Unang Yakap beneficiaries in gift-giving activities
8:30 p.m. December 24, 2024
Leading fiber broadband and technology provider Converge ICT Solutions Inc. shared the joy of Christmas to the mothers and volunteers of its Unang Yakap Community in Baseco, Tondo.
With the help of the mentors and mentees from its women mentorship program Grace Under Pressure: MentorSHE, the company celebrated with the beneficiaries and community volunteers through games, raffle, and gift-giving activities.
In partnership with Caritas Manila, Converge has been supporting the Unang Yakap Program that aims to provide healthcare and nutritional assistance to underprivileged pregnant and lactating mothers, and their infants, during their first 1,000 days.
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