January 21, 2020
Business

BPI Shares Secure Online, Mobile Banking Practices

BPI, online, mobile banking, secure, tips, practices

Media Release:

CYBERCRIMINALS and other hackers have been pouncing on users of online and mobile financial transactions. Or whatever netizens do whenever they are online.

Remember news reports on identity thefts, people losing their personal information and falling victims to cyber bad guys?

Do your best to not be another victim.

The Bank of the Philippine Islands has some tips for secure online and mobile banking, especially during these holidays.

BPI assured its commitment to providing a convenient and secure banking experience.

“As you continue to enjoy the conveniences of our online and mobile banking, it is important that you are also aware of online security trends and threats to keep yourself protected against cybercrimes and other scams.

“Know that BPI and its employees will never contact you to ask for your One-Time PIN (OTP) or other account information,” the bank said in an email to SDN — Science and Digital News.

Here are some basic facts and tips from BPI to help its customers better understand and utilize its OTP security feature:

BPI, online, mobile banking, secure, tips, practices
File image courtesy of Pixabay.

1. What is an OTP? How does it work?

An OTP is a unique 6-digit code sent via SMS to your mobile number registered with the bank which you need to key in to complete a transaction. A BPI OTP will include details about the transaction to be performed. Be sure to read it carefully before entering the OTP and authorizing the transaction.

2. Why is it important?

OTPs are used for two-factor authentication to provide an extra layer of security for the user. Keying in the OTP lets the bank’s security system know that a transaction is legitimate and being done by the actual account holder.

3. Who can access an OTP?

The OTP should only be received and seen by the account holder through their registered mobile number. You should only receive an OTP when you are initiating a transaction. Make sure the mobile number registered with the bank is updated, secure, and cannot be changed by anybody else.

4. What should I do if I receive an OTP when I did not make any transaction or if I inadvertently disclose my OTP?

Immediately change your online banking password and report the incident to 889-10000 or to help@bpi.com.ph. You may also visit the nearest BPI branch to ask for assistance.

Remember that BPI and its employees will never contact you to ask for your OTP. Report any suspicious calls, messages, or emails to 889-10000 or to help@bpi.com.ph (BPI

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