Coins.ph warns public vs rising digital fraud as scams hit 84% of Filipinos, cost ₱121.8 billion

Homepage > News > Finance > Coins.ph warns public vs rising digital fraud as scams hit 84% of Filipinos, cost ₱121.8 billion With e-wallets increasingly used to move stolen funds, the digital asset platform is urging vigilance against fraudulent schemes MANILA — In observance of International Fraud Awareness Week, Coins.ph—the largest digital asset exchange and a rapidly expanding mobile wallet in the Philippines—is cautioning users against the growing risks of digital fraud as scammers increasingly exploit financial platforms and online channels. Citing the Global Anti-Scam Alliance’s (GASA) State of Scams Philippines Report 2026, produced with Mastercard and Gogolook, Coins.ph noted that 84% of Filipino adults encountered a scam in the past year, up from 77%, with estimated annual losses reaching ₱121.8 billion. The report also found that e-wallets are becoming an increasingly common channel for moving stolen money, with their reported use rising from 34% to 73% in just one year. “Most scams don’t break into an account. They convince the account owner to open the door,” said Amira Alawi, Global Marketing Director at Coins.ph. “Our team works every day to catch fraud befo...