The Philippine Deposit Insurance Corporation (PDIC) has advised the public to be wary of individuals or phone-callers fraudulently claiming to be officers of PDIC and soliciting sponsorships for alleged activities of the Corporation.

The PDIC further advises the public that, as a matter of policy, the institution and its officers does not solicit from any person or entity for any purpose whatsoever.

The advisory was issued in light of the recent series of incidents being perpetrated by callers falsely pretending to be high-ranking officers of government offices or agencies. Callers were reported to have fraudulently used the name of the PDIC President Valentin Araneta in this matter.

Recipients of these fraudulent calls are encouraged to report such calls to the office of the PDIC President at the following numbers 0917-587-0959, (02) 841-4801 or (02) 818-6906 and attention Mr. A. Lincoln Remolona, Executive Assistant.

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.