banks in the Philippines

Nearly 700 hacked BDO clients to get money back

Ralf Rivas
Nearly 700 hacked BDO clients to get money back

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BDO asks affected clients to go to their respective branches and submit documentation to get the refund

MANILA, Philippines – BDO Unibank on Tuesday, December 14, said it is processing the reimbursement of close to 700 clients affected by the recent fraudulent transactions made online.

“We have requested our clients to go to their branch of account and submit documentation to get the refund. The bank will shoulder the losses perpetuated by this cybercrime incident,” BDO said.

The Sy-led bank added that it has been working closely with the Bangko Sentral ng Pilipinas (BSP) to prevent a repeat of the hacking.

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Inside job? Bangko Sentral, BDO still uncertain how much hackers got

Inside job? Bangko Sentral, BDO still uncertain how much hackers got

The BSP has formed a task force to investigate the hacking incident, as well as determine possible penalties for BDO.

BDO has yet to disclose the total amount stolen by the hackers.

BSP Governor Benjamin Diokno earlier said the hack was likely made possible due to a 10-year-old BDO service due for phaseout in 2022. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.