The Rizal Commercial Banking Corp. (RCBC) said it is ready to face any legislative inquiry aimed at protecting the public from bank or electronic scams.
This as Bagong Henerasyon party-list Rep. Bernadette Herrera said she is seeking a probe in aid of legislation as to the extent and limits of a bank’s liability during scamming incidents.
She cited a scam involving a dismissed RCBC branch manager who allegedly defrauded millions of pesos from multiple clients.
RCBC general counsel George dela Cuesta said one of the victims being cited by Herrera, the non-profit organization Inang Nag-Aaruga, dealt with its former employee, Liza Arzaga.
Arzaga was suspended in 2018 after the bank found out she allowed the organization to allegedly transact using fake names.
Dela Cuesta said while Arzaga was suspended, the organization still transacted with her.
“The funds that were used to buy the fake debt notes did not enter the bank’s system and therefore cannot be refunded,” Dela Cuesta said.
“The bank stands on solid legal ground and is ready to protect its interest in any venue and forum,” Dela Cuesta added.
The Bangko Sentral ng Pilipinas issued two resolutions clearing RCBC’s executives of any liability, but the case was escalated to the Court of Appeals.
“What makes this case a good starting point for a legislative inquiry is that the BSP’s decision, despite clearing the accused, actually acknowledged that a scam was perpetrated in RCBC’s offices, by a then-active branch manager,” Herrera said.