Bank glitches no terror attack – Senate panel

THE Senate Committee on Banks, Financial Institutions and Currencies believes that the systems glitch that hit two of the country’s biggest banks were caused by human error and theft, as it ruled out hacking or terrorist attack.

The panel headed by Sen. Francis Escudero, heard the testimonies of representatives of the Bank of the Philippine Islands (BPI) and Banco de Oro (BDO) who explained the causes of system glitches that affected millions of their clients early this month.