BDO reimburses hacking victims

BDO Unibank Inc., the country’s biggest bank controlled by the Sy Group, is nearing completion of the reimbursement of affected clients in the recently reported hacking of nearly 700 accounts, the Bangko Sentral ng Pilipinas said Wednesday.

BSP Governor Benjamin Diokno provided an update on the regulator’s investigation of the incident, which also involved Union Bank of the Philippines. “The BSP’s oversight examination team reports that both BDO and UBP have extended their full cooperation in the ongoing investigation, which is at an advanced stage,” he told reporters.

“BDO has already reimbursed 94 percent of all affected customers and has assured us that remaining clients will be fully reimbursed for their losses,” he said.

Diokno said the BSP continued to coordinate with law enforcement agencies, relevant government bodies, including the Anti-Money Laundering Council and key stakeholders in our efforts to strengthen cybersecurity. It is also working closely with Congress for the passage of measures on SIM registration and anti-mule accounts.