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SOMETHING'S GOING ON

Senate leader ‘alarmed’ by possible BDO ATM fraud


Senate President Aquilino “Koko” Pimentel III was alarmed by the latest reports of potentially compromised automated teller machines (ATM) of BDO Unibank Inc.

“I am alarmed with the news coupled with reported arrests, recently, of foreigners tampering with our ATMs,” Pimentel said in a text message to reporters on Friday.

“There is something going on in the banking sector, which is not good,” he said.

According to BDO, it has obtained reports of losses from ATM cardholders.

The potentially compromised ATMs now hounding BDO comes on the heels of a glitch that plagued Bank of the Philippine Islands (BPI) last week. The incident compelled BPI to deactivate online services and ATMs for two days to correct what it claimed to be an internal error that double-posted transactions made between April 27 and May 2.

The Bangko Sentral ng Pilipinas (BSP) said it is now monitoring the situation involving BDO.

Pimentel earlier filed a resolution calling for a legislative probe into the glitch that caused unauthorized credit and debit transactions from the bank accounts of BPI’s clients.

“Although this inquiry has been prompted by the experience of only one bank, there is a need to find out if other banks and our entire banking system are vulnerable to the same phenomenon as what struck BPI this early June 2017,” he said.

Senate Resolution No. 403 has yet to be referred to a committee as Congress is still on break.

Senator Francis “Chiz” Escudero, chairman of the Senate committee on banks, said he is willing to take up the matter but only after the BSP has finished its own investigation. — VDS, GMA News

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