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Coins.ph Reports ₱121.8B Losses from Digital Fraud in the Philippines

Coins.ph Reports ₱121.8B Losses from Digital Fraud in the Philippines

First seen 12 Nov 2026, 15:50 UTC • •
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ThreatCluster AI
ThreatCluster •November 12, 2026 at 15:51 UTC
  • •84% of Filipinos encountered scams in the past year, with losses totaling ₱121.8 billion.
  • •E-wallets are increasingly exploited for transferring stolen funds, rising from 34% to 73%.
  • •Phishing and impersonation remain the most common scam tactics targeting digital financial services.

Coins.ph has issued a warning about the rising digital fraud in the Philippines, with a recent report indicating that 84% of Filipino adults encountered scams in the past year, leading to an estimated loss of ₱121.8 billion. The Global Anti-Scam Alliance's survey revealed that e-wallets are increasingly used to transfer stolen funds, with their usage for this purpose rising from 34% to 73%. Common scams include phishing, fake customer support, investment scams, and task scams. Despite 58% of respondents feeling confident in recognizing scams, 60% interacted with scammers, and 15% suffered financial losses. The report emphasizes the need for users to be vigilant and recognize scam tactics. Coins.ph highlights that most scams rely on social engineering rather than technical hacking.

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Timeline

2026-11-10
Coins.ph issues fraud warning
Coins.ph cautioned users about rising digital fraud, citing a report showing 84% scam exposure among Filipinos.
Coingeek
2026-11-12
GASA survey published
The Global Anti-Scam Alliance released a survey indicating widespread scam exposure and significant financial losses among Filipinos.
gasa.org

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Common questions

What types of scams are prevalent?
Common scams include phishing, fake customer support, investment scams, and task scams.
How many Filipinos have encountered scams?
84% of Filipino adults reported encountering scams in the past year.
What is the estimated financial loss from scams?
The estimated annual losses from scams in the Philippines amount to ₱121.8 billion.