Social Media Content Compilation of Online Banking Scams in the Philippines: A Literature Review

Online banking has been proven to be an effective and convenient way of providing banking services anywhere and has been a necessity since the COVID-19 pandemic has affected the Philippines. Alongside this fact, people have been victims of scams involving these online services. Therefore, this paper aimed to analyze reports of online banking scams reported on social media using content analysis. The 26 filtered posts are labeled with 27 codes generated, and the top six were discussed. Specifically, scam (88.46%) was the most common code, followed by phone calls (57.69%) and impersonation (53.84%). Benefits, verifying personal information, and social engineering all had 46.15% occurrences. It is recommended for potential online banking scams to verify with the bank before giving away information, and to raise awareness on the possible technique's scammers use.