PDIC advises public on fake social media accounts

PDIC warns the public against fake social media accounts

The Philippine Deposit Insurance Corporation (PDIC) warned the public to avoid making transactions with facebook accounts that use PDIC’s name. The state deposit insurer maintained that it does not have a facebook account nor accounts in other social media. Hence, all social media accounts pertaining to PDIC are unauthorized.

The PDIC is very concerned that depositors may be lured into revealing details of their deposits in these facebook accounts. They could thus fall victims to scams and other forms of fraud. These unauthorized accounts also illegally use PDIC’s name and even its seal. The PDIC said that it will pursue legal actions against the unauthorized use of PDIC’s name as well as the PDIC seal. PDIC Regulatory Issuance 2009-04 issued to its member-banks and the general public, states that the PDIC seal is for the exclusive representation of the PDIC and its unauthorized use is prohibited by law under Section 21 (g) of Republic Act 3591, as amended or the PDIC Charter.

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