Gov't moves to stop cellphone-based fraud
The Philippine telecommunication regulator wants to call a high-level meeting with the Department of Trade and Industry (DTI) and the Anti-Money Laundering Council (AMLC) amid complaints that cellular phones are being used by phishing syndicates.
Online phishing groups typically send mass e-mails, making messages appear to have come from legitimate banks, insurance companies, and payment firms. Unsuspecting users who click links in the e-mail are then directed to bogus websites where they are asked to divulge data about their accounts, which are then used by syndicates to commit fraud.
The National Telecommunication Commission (NTC) however warned that phishing took another form in the Philippines -- text scams. This form of phishing is done with the use of ubiquitous mobile phones and is used to lure mobile users into profiteering schemes like fraudulent networking and pyramiding.
NTC deputy commissioner Jorge V. Sarmiento said in an interview that the commission will host a meeting with DTI and AMLC this month to draft a memorandum circular against text scams.
As a preliminary, Mr. Sarmiento said NTC is considering requiring all telcos to use a pre-assigned number for all mobile-based commercial promotions. Messages sent outside this number will hint that they were conceived in ill-faith.
NTC has formed a technical working group to draft the circular before the second quarter.
"Text scam is unique to the Philippines but the syndicates involved in it can be both local and foreign," Mr. Sarmiento said. "DTI handles consumer complaints and AMLC oversees scams but because mobile phones are being used as conduits; we are being required by consumers to do something."
Targeting mostly financial services companies, online phishing incidents have been on the rise globally. There are no reports yet on mobile phishing incidents however.
In January, the United States-based Anti-Phishing Working Group (APWG) said that unique online phishing campaigns grew from July last year by 38 percent to 9,019 cases in December.
Websites supporting the scams grew every month at a brisk rate of 24 percent from August until December, when there were 1,707 online phishing-related sites reported with the APWG.
The group likewise learned that the number of individual companies targeted by phishing scams has reached 55 in December, up from only 44 in October 2004.
AMLC, for its part, had likewise touted mobile phones as channels for money laundering that had about 65 reported cases in the Philippines as of January 2005.
AMLC executive director Vicente S. Aquino said in an earlier interview that the council received 80 assistance requests from foreign governments that suspect money has been laundered in and out of the Philippines through electronic and mobile means as of end-2004.
Money laundering is the crime of using dirty money to fund legitimate activities or to invest in legal entities.
AMLC is considering requiring remittance agents of to keep records of all money-related transactions done over the mobile phones
Online phishing groups typically send mass e-mails, making messages appear to have come from legitimate banks, insurance companies, and payment firms. Unsuspecting users who click links in the e-mail are then directed to bogus websites where they are asked to divulge data about their accounts, which are then used by syndicates to commit fraud.
The National Telecommunication Commission (NTC) however warned that phishing took another form in the Philippines -- text scams. This form of phishing is done with the use of ubiquitous mobile phones and is used to lure mobile users into profiteering schemes like fraudulent networking and pyramiding.
NTC deputy commissioner Jorge V. Sarmiento said in an interview that the commission will host a meeting with DTI and AMLC this month to draft a memorandum circular against text scams.
As a preliminary, Mr. Sarmiento said NTC is considering requiring all telcos to use a pre-assigned number for all mobile-based commercial promotions. Messages sent outside this number will hint that they were conceived in ill-faith.
NTC has formed a technical working group to draft the circular before the second quarter.
"Text scam is unique to the Philippines but the syndicates involved in it can be both local and foreign," Mr. Sarmiento said. "DTI handles consumer complaints and AMLC oversees scams but because mobile phones are being used as conduits; we are being required by consumers to do something."
Targeting mostly financial services companies, online phishing incidents have been on the rise globally. There are no reports yet on mobile phishing incidents however.
In January, the United States-based Anti-Phishing Working Group (APWG) said that unique online phishing campaigns grew from July last year by 38 percent to 9,019 cases in December.
Websites supporting the scams grew every month at a brisk rate of 24 percent from August until December, when there were 1,707 online phishing-related sites reported with the APWG.
The group likewise learned that the number of individual companies targeted by phishing scams has reached 55 in December, up from only 44 in October 2004.
AMLC, for its part, had likewise touted mobile phones as channels for money laundering that had about 65 reported cases in the Philippines as of January 2005.
AMLC executive director Vicente S. Aquino said in an earlier interview that the council received 80 assistance requests from foreign governments that suspect money has been laundered in and out of the Philippines through electronic and mobile means as of end-2004.
Money laundering is the crime of using dirty money to fund legitimate activities or to invest in legal entities.
AMLC is considering requiring remittance agents of to keep records of all money-related transactions done over the mobile phones
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