Philippines: Online fraud is spreading across the Philippines, with nearly 84% of adults encountering scams in the past year and estimated financial losses touching PHP 121.8 billion (approximately ₹18,100 crore), according to the State of Scams Philippines 2026 report.
The report, prepared by the Global Anti-Scam Alliance (GASA) in partnership with Mastercard and Gogolook, surveyed 1,160 adults. It found that 15% of respondents had lost money or personal information, but only 4% reported the incidents to authorities.
Digital wallets have become a preferred channel for scammers to collect money. Among victims who suffered financial losses, 73% transferred funds through e-wallets, compared with 34% in the previous year. Bank and wire transfers declined from 36% to 12%.
Coins.ph, a Philippine digital financial services platform, identified four major scam categories: phishing, impersonation, fraudulent investment schemes and fake employment or task-based offers. These schemes rely on deceptive messages, fake customer support accounts, promises of high returns and online jobs that require upfront deposits.
Amira Alawi, Global Marketing Director at Coins.ph, said scammers exploit people’s trust to make them voluntarily disclose sensitive information or transfer money.
The company also cautioned users against lending, renting or selling verified bank and e-wallet accounts, warning that criminals could use them to move money obtained through illegal activities. Such practices may attract penalties under the Philippines’ Anti-Financial Account Scamming Act (Republic Act No. 12010).
Users have been advised never to share passwords, one-time passwords or account recovery phrases. They should also verify suspicious requests and report fraudulent transactions to the relevant authorities.
