• Depositors up in arms as BPI suffers glitch


    AYALA-led Bank of the Philippine Islands (BPI) was hit by a technical glitch on Wednesday, with clients complaining of their balances being wiped out or going negative.

    The lender blamed an error in internal data processing for unauthorized transactions in its clients’ accounts.

    “Due to an internal data processing error, some clients may have seen their accounts debited twice or credited twice for a past transaction,” BPI said in an advisory released Wednesday.

    BPI clients reported over social media unauthorized withdrawals and deposits on their accounts. Withdrawals, money transfers and balance inquiries were affected.

    The bank’s online and phone banking facilities were also inaccessible, depositors said.

    BPI said: “We are currently correcting the mispostings. We apologize for the inconvenience that this may have caused.”

    No hacking – BSP
    The central bank said it would investigate unauthorized transactions on BPI accounts reported by clients on Wednesday.

    “We’ll investigate,” incoming Bangko Sentral ng Pilipinas (BSP) Gov. Nestor Espenilla Jr. told reporters in a text mesage.

    “For now BPI assures us this is not a hack and the problem will be fixed today and no one will lose money,” he added.

    Espenilla is the current deputy governor for the Supervision and Examination Sector of the BSP, which oversees BSP-supervised financial institutions like BPI.



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