By Pierce Oel A. Montalvo
IT’S ONE SMALL STEP for the central bank, and one giant leap for the Philippine banking industry.
Signed last July, the new Anti-Financial Account Scamming Act (AFASA) signifies the most comprehensive attempt yet to protect Filipino consumers from digital financial crimes.
Beyond the short-term, the AFASA serves as a cornerstone for the central bank’s 2024–2029 Financial Services Cyber Resilience Plan. The plan outlines a comprehensive roadmap and key framework designed to strengthen the financial services sector’s resilience against cyber threats
Do credit card scams increase during holiday shopping seasons?
## Cybersecurity Expert Discusses Rising Credit Card Fraud
**Intro:**
Welcome back to the show. Tonight, we’re talking about a growing threat facing consumers: credit card fraud. With us tonight is cybersecurity expert Sarah Jones, to help us understand the latest tactics being used by criminals and what steps we can take to protect ourselves.
**Interview:**
**News Anchor:** Sarah, thanks for joining us. Credit card fraud seems to be in the news a lot lately. What’s driving this increase?
**Sarah Jones:** It’s a combination of factors, really. We’re seeing more sophisticated hacking techniques, making it easier for criminals to access sensitive information. Online shopping continues to grow, expanding the attack surface for fraudsters. Plus, the rise of data breaches means that millions of credit card numbers are already circulating on the dark web, ready to be exploited.
**News Anchor:** That’s concerning. What are some common tactics criminals use to steal credit card information?
**Sarah Jones:** Well, phishing scams are still very prevalent. These involve emails or messages that appear to be from legitimate companies, tricking people into revealing their card details. We’re also seeing a rise in malware infections, which can steal information directly from your device. And, of course, there are always physical skimming devices installed on ATMs and card readers, capturing your data as you swipe.
**News Anchor:** So what can viewers do to protect themselves?
**Sarah Jones:** There are several things. Always be wary of suspicious emails or messages asking for personal information. Make sure you have strong, unique passwords for all your online accounts, and enable two-factor authentication whenever possible. Regularly monitor your bank statements for any unauthorized transactions. And be vigilant at ATMs and point-of-sale terminals, checking for any signs of tampering.
**News Anchor:** Great advice, Sarah. Thank you for shedding light on this important issue. For more information on cybersecurity best practices, visit the Cybersecurity and Infrastructure Security Agency’s website.
**Outro:**
We’ll be right back after the break with more news.
Let me know if you’d like me to elaborate on any specific aspect of the interview or explore different angles!