There is an increasing number of internet and ATM fraud victims in the country. Though banks are doing their best in putting up necessary safeguards and security features to stop criminals, they can only do so much. Phishing attempts, wherein the identity of a bank’s clients are stolen or compromised, can effectively drain accounts with none the wiser since the transactions cannot be checked if they are fraudulent or legitimate. They also cannot verify if the account owner himself is the one making the transaction if it was done via the internet or an ATM.
Since they can only rely on the records with them, a transaction will be deemed valid unless proven otherwise, even if it was caused by phishing attempts.
Yes, there are several defenses in place like one time passwords and multi-tiered security, but the problem of fraud still persists. What can help stop this headache?
BUSYBEE recommends SMS notifications in any internet and ATM transactions! Instead of victims realizing that they’ve been scammed weeks, months, or even years after the fact, they will be immediately notified and can immediately call their bank to take the appropriate action. In doing so, thieves can be quickly stopped in their tracks.
Find out how to implement an SMS notification system by visiting https://www.mybusybee.net/ (or follow our Official Facebook Page at https://www.facebook.com/officialbusybee.textblast/) and contacting (02) 929-2222 or (63) 917-837-2000.