Koko Pimentel to call for Senate inquiry on BPI glitch

Senate President Aquilino “Koko” Pimentel III on Friday said he would call for a legislative inquiry into the alleged technical glitch that resulted in incorrect balances in the accounts of the Bank of the Philippine Islands’ (BPI) clients.

Pimentel said the proposed Senate inquiry will delve into the bank’s security protocols, and will seek a reassurance from BPI to make sure that a similar incident would not occur again.

In a text message, Pimentel said he will file the resolution next week, as some of the bank’s clients were “not satisfied” with BPI’s explanations.

“[The probe was] demanded by constituents who are not satisfied with the public statements of the bank,” he said.

“[The investigation] also [aims] to make sure the banking system is not vulnerable to whatever struck BPI,” Pimentel added.

Pimentel said the “fiasco” was “dangerous,” as he urged local banks to be on the lookout for a possible cyber attack.

Senator Francis “Chiz” Escudero, chairman of the Senate committee on banks, said he is willing to call an inquiry into the matter.

“If referred to me at the proper time, I will hear it. I have zero backlog in my committee,” Escudero said.

On Thursday, three Ako Bicol party-list representatives also filed a House resolution seeking a probe on the matter.

BPI earlier assured that the glitch was not a case of hacking.

The bank’s representatives explained that BPI experienced an “internal data processing error.”

“Due to an internal data processing error, some clients may have seen their accounts debited twice or credited twice for a past transaction,” the BPI said in a statement posted on Facebook. — Kathrina Charmain Alvarez/RSJ, GMA News