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Credit Card Fraud in Philippines Rises 21% as Online Deals Surge

Credit card fraud in the Philippines rose 21% since the coronavirus pandemic, with many incidents involving scammers gaining access to one-time passwords to transact online, an industry group said on Thursday. 

“The industry has been experiencing high volumes of fraud cases causing financial detriment. These perpetrators have carried out fraud by using the various digital payment platforms,” Alex Ilagan, executive director of the Credit Card Association of the Philippines, said in a statement.