Pimentel proposes Senate inquiry on BPI glitch

enablePagination: false
maxItemsPerPage: 10
totalITemsFound:
maxPaginationLinks: 10
maxPossiblePages:
startIndex:
endIndex:

Metro Manila (CNN Philippines, June 9) — Senate President Aquilino "Koko" Pimentel III on Friday said he would call for a Senate inquiry on the system error that hit the Bank of the Philippine Islands (BPI).

In a statement, the senator's office said, "the internal data processing error which the BPI admitted to have ruptured its data processing system resulted in discrepancies in the bank account balances, debits for some and increases in the bank statements of other depositors."

READ: BPI deactivates electronic channels following extended glitch reports

"The computer fiasco is a dangerous occurrence even as the BPI assured the public that the so-called internal data processing error was not a case of hacking as spontaneously reported by social media users in their public accounts," it added.

According to the statement, the inquiry will focus on bank security protocols, and will order BPI to explain the root cause of data error.

"Local banks must be on the lookout for a possible cyber attack as hackers worldwide have already victimized a number of banking institutions despite safeguard measures to pre-empt the commission of the crime," it stated.

BPI fiasco

BPI, the oldest bank in the country, went through a system-wide error on June 7, as some customers found unauthorized transactions in their bank accounts.

This resulted in some of its clients becoming instant billionaires, while others were left with nothing, even having negative balances.

READ: BPI client finds billions of pesos in account

Later that day, the bank issued a statement, announcing they "have rectified [their] internal system issue. Access to all electronic channels has been restored."

However, on June 8, BPI released another statement, saying "in the process of rectifying balances of accounts with mis-posted transactions...certain accounts still reflect incorrect balances."

At 9 p.m., BPI then posted in its Twitter account that clients could once again access the bank's electronic channels.

"As we expect an initially high volume of transactions, you may experience traffic-related difficulties in accessing online and mobile channels, but we anticipate this to normalize very soon," it said.