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July 14, 2024

GoTyme Bank urges public vigilance against scams

GoTyme Bank warned of rising online scams in the Philippines, citing a 35.9% scam rate reported in the 2023 Asia Scam Report.

c head of fraud strategy, outlines common scam tactics, emphasizing immediate action for victims.

If funds are deposited in a GoTyme account, scammers swiftly withdraw or transfer them. Victims should report incidents to customer service (CS), initiating a restitution process involving the sending bank and law enforcement.

GoTyme emphasizes privacy and security, filing suspicious activity reports (SARs) and collaborating with authorities. Efforts are underway for legislative action, like the Anti-Financial Account Scamming Act (AFASA), to enhance consumer protection.

Through partnerships with organizations like Scam Watch Pilipinas, GoTyme educates the public on fraud prevention.

GoTyme CEO Nate Clarke underscores the bank’s commitment to combating scams, urging collective action from banks, the public, and government.

With continuous review and enhancement of fraud prevention measures, GoTyme prioritizes swift customer support for a secure digital banking experience.