Depositors and General Public Advised to be Cautious of Deposit Insurance Claim Scams
The Philippine Deposit Insurance Corporation (PDIC) recently issued a Notice to all Depositors and the General Public to be cautious of deposit insurance claims scams. These involve certain individuals who represent themselves either as officers of the PDIC and/or related government agencies, or as persons who are authorized to facilitate payment of deposit insurance claims and recovery of uninsured deposits.
In exchange for monetary consideration, these individuals falsely represent themselves as having the capacity to facilitate the immediate release of deposits from closed banks. They also falsely claim that depositors could be paid an amount in excess of the P500,000.00 maximum deposit insurance coverage.
The public, especially depositors of closed banks, are strongly advised to deal directly with authorized PDIC personnel (with PDIC IDs) deployed in the premises of closed banks or designated payout venues at the time of closure, or at the PDIC head office. The PDIC is the government agency responsible for the processing of claims and release of deposit insurance to depositors of closed banks.
The PDIC reiterates that processing and payment of deposit insurance claims for valid deposit accounts are free of charge and strictly follow standard operating procedures. PDIC officers, personnel and agents are prohibited from soliciting any form of compensation particularly facilitation fee in the performance of their duties.
All depositor concerns relating to the release of deposits in closed banks or deposit insurance should be coordinated with the PDIC. The public is enjoined to report any information on individuals or entities who offer their services and demand for fees to facilitate any transaction with the PDIC.
For inquiries and assistance, contact the PDIC Public Assistance Department at telephone numbers (02) 841-4630 to 31 (for callers within Metro Manila); Toll Free Hotlines: 1-800-1-888-7342 or 1-800-1-888-PDIC (for callers outside Metro Manila); Email address: firstname.lastname@example.org; or send a private message to Facebook: www.facebook.com/OfficialPDIC; or contact Atty. Jaromme Z.K.C. Castillo of the Office of the PDIC President at (02) 841-4802; or Email address: email@example.com