#BSP investigation

The Bangko Sentral ng Pilipinas (BSP) said it is reviewing the recent service disruption that affected Bank of the Philippine Islands (BPI), as customers experienced problems accessing the bank's digital channels over the past few days.   According to the BSP, it is working closely with BPI to assess the incident, ensure services have been restored, and determine whether additional measures are needed to prevent similar outages in the future. The BSP added that it can investigate such incidents even without receiving formal complaints from affected clients. The BSP has not yet disclosed the cause of the outage or whether any penalties will be imposed while its review is ongoing. The rollout is part of the Paleng-QR Ph Plus program, a joint effort of BSP and DICT to promote the use of QR Ph, the country’s standard system for cashless payments. During the launch event, BSP Deputy Governor Bernadette Romulo-Puyat and DICT Undersecretary Sarah Maria Q. Launched in July 2020, the BSP Online Buddy (BOB) is Bangko Sentral ng Pilipinas' Consumer Protection bot, ready to help with people's financial consumer concerns and questions. With this, you may raise your concerns with BSP-Supervised Financial Institutions (BSFIs) and submit queries on other BSP-related topics. Read more in our articles including "BSP warns of accountability after BPI outage" and "Pasig Mega Market gets Starlink internet for cashless payments".