It finally happened to me.
The other day, I was minding my own business when my phone rang. I usually don’t answer unknown numbers, but this time I was expecting an online shopping delivery, so thinking that it could be a lost rider, or one of those lazy ones who don’t know how to use a doorbell, so I picked up.
The guy on the other end of the line knew my full name and the last 4 digits of a newly replaced credit card. He told me that there was an ongoing maintenance activity with the system and that I had rewards points that were expiring very soon, and I was being given the option of redeeming the points so it wouldn’t be wasted.
Alarm bells had been ringing in my head ever since I picked up the call, especially because the number was just a regular number, and we have always been told that the bank would never contact us on their own. But I was a curious guy that day so I played along.
The guy didn’t even give me a chance to choose, and as soon as I repeated the last option for redeeming my ‘rewards points’ which were apparently worth P18,000, just to ask what exactly they were offering, he said ok they will process the application of the rewards points peso value to my outstanding credit card bill and that he was going to transfer me to the appropriate department.
He put me on ‘hold’ for a few seconds, and then a woman replaced him.
She told me that we were going to process the transaction. I was getting impatient so I asked her what she needed from me multiple times. Then she told me that they sent a text message that I was to check.
I played dumb for a bit and told her I didn’t get any yet. Then when it came, all my suspicions were confirmed. I was sent an OTP (one time pin).
That was when I asked her “Gusto mo ang OTP?” However, I couldn’t resist and laughed out loud. That was when she laughed back at me and then immediately dropped the call.
In case you guys are interested, the number that called me was 09759821102.
I always thought that I would never fall for such a scam, but having engaged with that couple, I began to see how they can pull it off, especially if they catch a victim unaware or in a less-alert mode, such as in a distracted or sleepy state.
What was interesting for me was that they knew my credit card and contact number, which although is just a part of the puzzle to complete a scam, because they’d still need my CVV and OTP, but nevertheless still a blow to the security of the bank/credit card company.
What made it more worrying to me was the credit card they were referring to had just been replaced after having been breached just a month ago. This was a backup credit card which I hardly use. It actually had not seen the light of day in 3 months and yet, it was still able to make a significant purchase that I fortunately was informed of via a text alert and was able to immediately dispute.
The safest course of action would probably be to have my credit card cancelled and replaced yet again, as 2 successive hits in as many months certainly leaves much to be desired as far as the bank’s security is concerned. The scammers seem to have an edge at this point, which means we will have to be ultra alert as far as our credit cards, bank accounts, and e-wallets are concerned.
However, if you come to think of it, even if I change cards or banks, the criminals and scammers are still around and they are always trying to do their thing. That means that it is still ultimately up to us to put up a credible last line of defense by being aware and alert.
Banks keep reminding their customers that they will never call to ask personal or financial details or OTPs from us. However, we also get so many spam calls regularly that we sometimes forget the difference between those calls that try to sell us something, those that are trying to scam us, and us calling and needing to be verified when we have a service request.
Yet despite those reminders, people still get scammed, mostly because we think we are prepared for it until it finally happens to us, which is rare. The scammers are simply playing the odds that there are still people out there who don’t have their guard up, even if it is just 10 percent or less of all shots they take, they will still take shots at us because it is a profitable one when they do make a hit.
The takeaway here is that while it would be better if our banks could improve their security protocols to ensure that the scammers don’t even get the information needed to make contact, we will have to continue protecting ourselves by staying aware and alert at all times, especially when it comes to our bank accounts and credit cards.
When in doubt, drop the call. If you have more doubts after dropping a potential scam call, call the official toll free number to check if your account is ok, or use the app to check for any recent unauthorized transactions, just in case.
Limit exposure by lowering credit card limits if it is becoming too much and you don’t need it anyway. Pay attention to advisories. Never give away OTPs, account numbers, CVVs, or verification information like mother’s maiden names.
Maybe one day, our banks will be able to fully secure our information and stop scammers from even trying. But until that day comes, we also have to do our part in protecting ourselves from the scam artists that also keep on evolving and are trying even harder to stay one step ahead.*
