Scams reached 84% of Filipino adults in the past year, up from 77% the year before, with estimated annual losses of ₱121.8 billion. That is according to the Global Anti-Scam Alliance's (GASA) State of Scams Philippines Report 2026, produced with Mastercard and Gogolook and cited by digital asset platform Coins.ph during International Fraud Awareness Week, as reported by CoinGeek, Fintech News Philippines and Daily Tribune.
E-wallets take over. The report found that e-wallets are increasingly used to move stolen funds. Fintech News Philippines, citing Back End News, reports that 73% of victims who lost money sent it through e-wallets, up from 34% a year earlier, while bank and wire transfers fell to 12% from 36%.
How the figure was built. The loss estimate is based on a survey of 1,160 Filipino adults extrapolated to the national population, Philstar noted, according to Fintech News Philippines. GASA also found that 15% of respondents lost money or personal information leading to financial loss, yet only 4% reported a scam to the authorities.
Most scams don't break into an account. They convince the account owner to open the door. — Amira Alawi, Global Marketing Director at Coins.ph
Four schemes flagged. Coins.ph highlighted four common schemes that rely on social engineering rather than hacking: phishing and impersonation using fake texts, emails and websites to steal passwords and one-time PINs; fake customer support accounts on social media and messaging apps; investment scams promising guaranteed or unusually high returns; and task or employment scams, often paid in crypto, that ask victims to deposit money to unlock tasks or withdraw supposed earnings.
Why it matters
Phishing and crypto losses. CoinGeek and Daily Tribune cite a TransUnion study covering August to December 2025 in which phishing (45%) and fraudulent text messages (38%) were the most reported digital fraud schemes, and 6.1% of login attempts in the Philippines were flagged as suspected fraud in 2025. CoinGeek also notes the FBI reported $7.2 billion in crypto investment fraud losses in 2025, the costliest cybercrime type it recorded. "If someone guarantees your profit, that guarantee is a scam," Alawi said.
Renting accounts is risky. Coins.ph warned against lending, renting or selling verified e-wallet or bank accounts, which scammers use to move stolen funds. Using financial accounts for scams carries penalties under the Anti-Financial Account Scamming Act (Republic Act No. 12010). Coins.ph is also sponsoring the 14th National Fraud Conference of the ACFE Philippines Chapter, according to CoinGeek.
- Never share your OTPs, passwords or recovery phrases.
- Transact only through official channels; support staff will not ask for account details on social media.
- Treat any guaranteed investment return as a red flag.
- Do not lend, rent or sell your e-wallet or bank account.
- Report suspicious activity quickly to your platform and the authorities.
Sources: CoinGeek, Fintech News Philippines, Daily Tribune
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