BSP in coordination with BDO, UnionBank on hacking incident

The Bangko Sentral ng Pilipinas (BSP) has announced that it is monitoring the surge of complaints of BDO customers regarding unauthorized transactions in their accounts and is in close coordination with the said bank, including UnionBank.

BSP Governor Benjamin Diokno tweeted that it is monitoring the surge of complaints posted on social media platforms and are now coordinating with BDO and UnionBank to ensure remedial measures are being undertaken, including reimbursement of affected consumers.

“Rest assured that we continue to collaborate and engage stakeholders to ensure the safety and integrity of the financial system as well as the protection of financial consumers,” said Diokno.

Manila Bulletin has received an official statement from BDO, saying that it is already informed about the One-Time-Pin (OTP)-related concerns and wants to assure clients that it is looking into each of the cases and will revert back to those who have been affected.

Bloomberg also received an update from UnionBank President Edwin Bautista and said that the bank “will not hesitate to take legal action against individuals who use their accounts to facilitate criminal activities,” and that it is also monitoring and collaborating with BDO.

The BSP has been monitoring the surge in complaints posted in social media platforms since the early part of this week. We are in close coordination with BDO as well as UBP on this incident to ensure that remedial measures are being undertaken,

— Benjamin Diokno (@GovBenDiokno) December 12, 2021