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Online stock broker COL Financial warns clients of potential system breach

Listed online stock broker COL Financial Group Inc. on Friday warned its clients of a potential breach in its system.

"We are informing our clients that we have detected a possible breach involving some personal client information," COL Financial president and CEO Dino Bate told GMA News Online.

"The situation is still being investigated to confirm the possible breach," Bate said.

COL Financial has reported the matter to authorities such as the National Privacy Commission and the Philippine Stock Exchange.

The potential system breach has not affected account balances and stock positions of COL Financial clients and so far transactions have not been compromised.

"Nothing has changed in the details of our clients," Bate said.

In a separate letter to clients, Bate gave the assurance that COL Financial has internal control procedures in place to prevent unauthorized withdrawals from trading accounts.

"We have taken action to further strengthen the security of our systems. We also recommend as standard practice that you regularly change your password," he added. — VDS, GMA News