Cybersecurity
Philippine Central Bank Probes Hacking Complaints at Banks
- BDO says a sophisticated fraud technique affected its clients
- Stolen money was used to buy Bitcoin, Manila Bulletin reported
This article is for subscribers only.
The Philippine central bank is looking into complaints that some clients of BDO Unibank Inc., the country’s largest lender by assets, lost money to an online fraud in which funds were channeled to accounts at Union Bank of the Philippines.
“We are in close coordination with BDO as well as UBP on this incident to ensure that remedial measures are being undertaken, including reimbursement of affected consumers,” central bank Governor Benjamin Diokno said in a statement on Sunday. The regulator has been monitoring a surge in complaints posted via social media since the early part of this week, he said.