Landbank assures clients systems were not hacked after reports of unauthorized transactions

The Land Bank of the Philippines issued a statement clarifying that its systems were not hacked and remain secure after some teachers reported losing thousands of dollars from their payroll accounts.

The Teachers' Dignity Coalition (TDC) has released a statement saying that some teachers lost money in their Landbank accounts, ranging from P26,000 to P121,000.

Landbank said that based on their investigations, these teachers had fallen victim to phishing scams and no hacking occurred.

"According to the initial investigation by Landbank, the devices of the teachers were hacked via phishing which compromised their personal information," the statement said.

Phishing happens when a victim is tricked into revealing sensitive information such as banking details, credit card numbers, and more.

"The Bank has already reached out to the affected customers and is working on the resolution of these isolated cases at the soonest possible time," it added.