05 Assignment 1
05 Assignment 1
05 Assignment 1
In December 2021, Banco De Oro users took to social media to complain about illegal transactions made
using their accounts to transfer money to the Union Bank account of a certain “Mark Nagoyo.” A
common pattern among the victims is that the alleged cybercriminals were somehow able to access the
victims’ BDO accounts even if they were careful about not clicking any suspected phishing links and
ensuring not to reveal any of their banking details in public.
A month later, five (5) suspects of the BDO hacking were arrested and charged by the National Bureau of
Investigation (NBI).
Ronelyn Panaligan, one of the suspects, acts as a “verifier” and pretends to conduct a survey and ask
victims for their identification cards with photographs in exchange for PHP50 in prepaid credit loan for
“participating in the survey”. The information and photographs of the victims, without their knowledge,
would be used to apply for verified GCash or Paymaya accounts. And after securing the debit cards,
would offer them for sale to other fraudsters looking to cash out funds from illegitimate sources.
Clay Revillosa, a third-year college student, was found to be selling 800,000 mailing lists or e-mail
addresses containing login credentials of online banking accounts for PHP30,000.
As for Ifesincachi Fountain Anaekwe and Chukwuemeka Pete, the DOJ said, they are the brains behind
the “Mark Nagoyo Group” and provided access devices such as bank accounts, crypto wallets, or even
point of sale (POS) terminals of legitimate merchants to fraudsters.
Jherom Anthony Taupa was found to be selling a “SCAMPAGE” for P2,000. It is a phishing website that is
an imitation of the website of GCash. The "SCAMPAGE" was used to harvest the login details,
usernames, passwords, and mobile personal identification numbers (MPINs) of victims who would
access it under the mistaken belief that they were accessing the GCash official portal.
Guide Questions:
1. What should possible cybersecurity technology BDO apply to prevent such scenarios? Match the
cybercrime offense to the possible cybersecurity technology.
The possible cybersecurity technology BDO should apply to prevent such scenarios are
encryption, authentication, and phishing detection. Encryption will keep users’ private
information to remain safe from any hacking activities. While Authentication will be the one
responsible in validating a user’s identity to prevent others to access other user’s account
illegally or without any authorization to do so. Lastly, to prevent phishing, BDO should have a
phishing detection in their system that will target the visual likeness of the phishing sites. The
phishing detection should be a visual similarity-based so that they will be able to determine
phishing sites that are copying the visual representation of their sites and stop them.
2. Which cybersecurity technologies should bank users apply to avoid falling from such crimes?
The cybersecurity technologies that bank users should apply to avoid falling into such crimes
are phishing detection and virus detection. Their devices should have a phishing detection to
identify phishing sites and phishing URLs and prevent the determined phishing sites and URLs
from attacking the users’ system and/or stealing the users’ data. The users should also have
virus detections on their devices because usually hackers steal personal information and data
by using viruses and/or malware.
3. In your opinion, what is the significance of cybersecurity technologies in situations like this?
In my own opinion, the significance of cybersecurity technologies in situations like this is that it
safeguards all types of data against cyber theft and damage. It is significant because it ensures
the safety of our data by making sure that no unauthorized people will be able to access our
data illegally. It is also significant since it not only helps us to secure the safety of our data and
information stored in our devices, but it also keeps every system in our devices safe and
protected from virus attacks, malware attacks, and other cybercrime attacks. Therefore,
cybersecurity is crucially significant, especially in the situations like this.