October marks the start of the spooky season, where monsters take center stage. While these on-screen terrors offer a fun scare, real-life “financial monsters” like fraudsters, impersonators, and manipulators can be a true horror story for a person’s finances, safety, and mental well-being.
In the Philippines, 32% fell victim to digital fraud in the past year, according to the Cybercrime Investigation and Coordinating Center (CICC). To help you spot these threats, here are some common patterns and tips to avoid getting tricked by these financial monsters.
Suspicious links, websites and emails
Criminals often use fake links, websites, and emails to impersonate legitimate organizations to steal a victim’s information, access their accounts, or install malicious software. Red flags such as generic greetings, suspicious login attempts, or problems with your account are what one needs to watch out for. Make sure to check the sender’s email address, which can be misspelled, have extra letters, or come from a public domain such as @gmail.com. Never click on the links they provide.
Spelling and grammatical errors/inaccuracy
Spelling, grammar, and syntax errors are also huge indicators of scams. These mistakes occur when scammers might use machine translation, unlike reputable companies that have their own communications to ensure error-free and professional correspondence. Assess small details within the message, like multiple typos, awkward phrasing, or strange punctuation. If formatting is inconsistent and does not sound natural, take it as a sign that this message is likely fraudulent. Do not reply and report it directly to authorities such as the Philippine National Police-Anti Cybercrime Group and National Bureau of Investigation (NBI).
Sense of urgency and pressure
The combination of pressure and emotion, also called social engineering, is a potent tool that fraudsters use to override their victims’ ability to think clearly. By invoking strong emotions like fear, excitement, or empathy, they push people into making quick and rash decisions that almost always result in a big mistake. Certified businesses do not use force, especially when it involves sensitive information or money. Your best defense is ending the communication and contacting the company directly through an official number, email, or website to confirm whether the request is real or a scam.
Too good to be true offers/huge hidden charges
When an offer seems too good to be true, it most certainly is. The appeal of something for nothing makes victims fall for the promise of easy money, big prizes, and exclusive opportunities. The most important rule is to never pay an advance fee for a lottery you never entered for or accept an expensive item at a fraction of the cost. Caution is always better than the regret of suffering a major loss.
As a global financial infrastructure company for the Global Majority, Tala is committed to being Filipinos’ trusted partner for long-term growth through upholding fair and ethical standards, as well as actively supporting policies that combat fraudulent practices.
For instance, Ginalyn turned to Tala after her experience with a rogue online lender. She received only a portion of the amount she applied for and was forced to pay huge interest under harmful threats.
The biggest mystery to me was how they got my aunt’s contact number. They threatened her that if I didn’t pay, she’ll have to pay for it. And as the due date approached, that’s when they started saying that they’ll send someone to me. I was traumatized,” she said.
Tala observes internationally recognized fraud prevention practices and uses AI/ML to detect suspicious or automated behavior in its systems. It is also raising awareness through social media advisories, forums, and financial literacy workshops, and has worked with the National Bureau of Investigation (NBI) in filing cases as part of its promise to hold criminals liable.
“With Tala, the interest fee is low. It is also very safe and friendly. If your due date is coming up, Tala will encourage you to get in touch with them in case you can’t afford to pay now,” Ginalyn added.