BSP to investigate BPI glitch

Bank regulator Bangko Sentral ng Pilipinas (BSP) on Wednesday said it will look deeper into the technical glitch which caused debits to multiple accounts under the Bank of the Philippine Islands (BPI).

"We'll investigate," BSP Deputy Governor for the Supervision and Examination Sector Nestor Espenilla Jr. said in a text message.

His remarks came after BPI experienced an internal data processing error, which caused debits from its clients accounts.

The Ayala-led lender has since clarified that the incident was not caused by hacking.

"For now BPI assures us this is not a hack problem will be fixed today and no one will use money," Espenilla said.

To recall, the BSP in June last year created a new division to ensure all transactions in Philippine banks and clean and valid. — RSJ, GMA News