BSP is coordinating with BDO to ensure that those who have been hacked are reimbursed

The Bangko Sentral ng Pilipinas (BSP) has announced that it is closely monitoring the increase in BDO customers’ complaints about unauthorized transactions in their accounts and is working closely with the bank, including UnionBank.

Governor Benjamin Diokno said on Twitter that the BSP is monitoring the surge of complaints on social media platforms and is working with BDO and UnionBank to ensure that remedial measures, including consumer reimbursement, are taken.

“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,”  Diokno said.

BDO has issued an official statement to Manila Bulletin, stating that it has been informed of the One-Time-Pin (OTP)-related concerns and wants to reassure clients that it is investigating each case and will contact those who have been affected.

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

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