Social engineering attacks, including phishing, account takeovers and identity theft, accounted for 76 percent of reported cyber fraud losses in 2025, according to the Bangko Sentral ng Pilipinas (BSP).
The bank has added four safeguards to its mobile app, including a 24-hour transaction freeze after critical account changes and a feature that lets customers lock away money from transfers.
Slowing down account takeovers
Metrobank’s Cooling-Off Period automatically disables all app transactions for 24 hours when critical security settings, such as a password or registered device, are changed, creating a window for customers to detect and report an unauthorized takeover.
Money Lock goes a step further by allowing customers to block part or all of their available balance from being transferred or used for transactions, including scheduled payments, until they personally unlock the funds.
The bank cautioned customers to leave enough money unlocked for upcoming transactions, while noting that locked savings remain protected even if someone gains access to their card.
Checking location, recipient
Metrobank has also introduced geolocation checks that compare transactions with the customer’s registered device and its location, allowing unusual activity to be flagged in the background.
A separate Payee Verification feature shows a masked version of the recipient’s registered name before transfers to another Metrobank account, giving customers another chance to catch a wrong or suspicious destination.
The changes come as banks strengthen defenses under the Anti-Financial Account Scamming Act and BSP Circular No. 1213, with the new safeguards available to customers who update to the latest version of the Metrobank App.
—Edited by Miguel R. Camus
