BSP issues alert on

new QR code-fraud

TAGBILARAN CITY, Bohol (PIA)—Bangko Sentral ng PIlipinas (BSP) has issued an alert for people who may have been technologically overly confident, they miss out the digital payments details when paying, via Quick Response (QR) code.

BSP Banking Officer V Dr. Gregorio Baccay III, during a briefing with information officers and banker officials of the Bohol Bankers Association at the Reynas Garden, revealed yet another of scammers’ modus involving the use of QR codes.

Baccay said the new modus is called “quishing” which is short for QR phising.

Quishing is a scam where scammers use malicious QR codes to trick people into visiting fake websites, downloading harmful content or sending cash, the bank official explained.

Instead of sending a suspicious link which was an old modus that has already been exposed, scammers simply place a QR code on posters, emails, receipts, or messages.

When an unsuspecting person scans the code, it leads to sites that steal information, a fake log-in page like an e-wallet, fake bank log-in or a malicious malware that sends virus to your phone.

And because the QR code hides the actual URL, discerning the danger is much harder before scanning.

The real danger is when scammers replace a merchant’s generated QR codes with their own generated QR codes, that when one scans the code, the details that come out are not of the merchant, but of the scammer’s account.

For the unsuspecting, instead of paying to the merchant, the payment then goes to the scammer’s account.

So how does one get protected from quishing?

BSP authorities said only scan QR codes from trusted and verified sources, check if the QR code looks altered or replaced, before proceeding with any transaction.

Also pre-view the URL before opening, as most phones show it.

Finally, the bank official advised: don’t enter sensitive info on sites opened via QR codes, and always protect your personal information, and that is the reason why it is called personal.

Baccay, who presented for the BSP the recent regional economic highlights, also detailed the cyber hygiene practices for consumers especially those who have slowly transitioned into the digital payments system as the government broadens its digitalization campaign.

Quishing is the most recent modus that scammers use, after SMishing has been exposed to the public.

Smishing is a type of scam that uses SMS (text messages) to trick people into giving away personal information, money, or access to accounts, Baccay shared to information officers.

Using text messages, scammers pretending to be from a trusted source, such as a bank, delivery services, government agencies, e-wallets or telecom providers, send urgent text messages, urging immediate action like replying, or clicking on a link where the person’s personal Identification number (PIN), one time password (OTP) or password is asked.

In addition to this, Baccay told the information officers and bankers of a recent BSP circular which now sets aside the or discourages the reliance on OTPs as the primary authentication method for digital banking—mainly because OTPs (especially via SMS) are vulnerable to phishing and SIM swap fraud.

BSP Circular No. 1160 (2022) encourages banks and e-money issuers to adopt stronger authentication measures beyond OTPs and asks them to promote multi-factor authentication (MFA) using more secure methods like biometrics (fingerprint, face recognition), device-based authentication and in-app approvals instead of SMS OTP. (PIAbohol)

QUICK AS QR CODING. BSP baking officer Dr Gregorio Baccay shares alert to Boholano information officers about a new quishing modus where a QR code is also used to direct the flow of money from a supposed payment to a merchant into the personal account of the scammer. (PIAbohol)

Bohol inflation rate 3.0%

PSA, Bohol chamber call

for austerity measures

TAGBILARAN CITY, Bohol (PIA)— Tighten your belts. Check on your spending and save money.

This sums up the shared advice of an official of the Bohol Chamber of Commerce and Industry (BCCI) and the Philippine Statistics Authority (PSA) as the community now starts to feel the pinch of the increase in prices of common food basket here.

BCCI Executive Director Jocelyn Pilayre, shared the nugget of wisdom as the PSA reported the increase in Bohol’s inflation in Bohol for the second month.

In fact, Pilayre, who sat at the monthly PSA forum said she is not keen anymore into looking at gas station price signages, knowing that she will be seeing the rising costs.

During the monthly Inflation Rate Data Dissemination by the PSA, Statistical Specialist II Venus Estillore pointed out that “headline inflation in Bohol accelerated to 3.0 percent from 2.2 percent in January 2026.”

In fact, the inflation in February 2025 was lower at 2.9 percent, Estillore added.

For this, Estillore shared Pilayre’s statement, considering that the February did not yet include the price rate movements caused by the conflict in the Middle East.

The reported increase in inflation in the prices of 23 goods and services typically purchased by Boholano consumers came before the tension in the Middle East broke.

The PSA said the recent inflation rate was a result of the data gathered in the beginning days of February, while the Middle East crisis started February 28.

Bohol’s February headline inflation rate, meaning the rate of change of prices of all indices which the PSA monitors here, is way lower than the overall inflation of Central Visayas, which increased from 5.6 percent in January to 6.0 percent in February, Estillore also said.

Driving the upward trend in headline inflation here are in faster year-on-year increase in the price indices of food and non-alcoholic beverages, which weighs heavily on household budgets at 46.3 percent share.

Food and non-alcoholic beverages rose to 3.2 percent in February from 2.3 percent in the previous month.

Meat and other parts of slaughtered land animals also grew from 7.2 percent in January to 10.6 percent while fruits and nuts recorded a -4.3 percent rate in January which climbed to -1.0 percent in February.

Aside from food and non-alcoholic beverages, rates in the increase of prices of housing, water, electricity, gas and other fuels which make up for the 31.5 percent of family spending.

Its inflation rate stirred from 0.7 percent to 1.8 percent in February, PSA noted.

Electricity price rate moved from 4.8 percent to a double digit: 13.4, gas from -7.0 to -5.8 and services for the maintenance, repair and security of the dwelling moved from 9.7 percent to 10.7 percent.

Completing the three sources of inflation uptrend is transport which makes up to the 14.4 percent of family income spending, which grew from 5.3 to 6.2 percent in February

The inflation in transport is solely caused by fuels and lubricants for personal transport equipment from -5.2 percent to -1.7 percent.

At this, food inflation rate in Bohol this February is 3.2 percent.

Rice inflation in January was -5.3, which moved to -2.2 in February; fruits and nut had -4.2 in January to -1.0 in February, all registering slower negative inflation.

Higher inflation rates were noted in meat and other parts of slaughtered land animals which leapt from 7.2 percent to 10.6 percent in February.

Meanwhile, ready-made food and other food products registered 0.8 to 1.3 percent in February and corn which had 10.3 percent inflation arte in January now has 16.9 percent. (PIABohol)

MODERATION. With the rates of price movements now at 3.0, which is the highest after the 2.9 percent in February last year, PSA statistical specialist Venus Estillore call on Boholanos to save and exercise austerity measures. (PIA Bohol)