The Bangko Sentral ng Pilipinas (BSP) has formed a seven-person Open Finance Oversight Committee Transition Group (OFOC-TG) as the interim governing body to lead the establishment of an open finance ecosystem in the country.
Bangko Sentral ng Pilipinas BSP Governor Benjamin E. Diokno, who signe
BDO Unibank Inc. said clients whose accounts were hacked on the weekend of Dec. 11-12 will be reimbursed to keep its “good customer relationship” even if the SM Group bank “is not legally liable.”
54657 “Liability clause is a regular compliance in the banking industry. This has been part of the
Several banks and non-banks may have been used to transfer the stolen cash from BDO Unibank Inc. when its cybersecurity system was hacked last weekend, based on the initial investigation of the Bangko Sentral ng Pilipinas (BSP). The BSP did not identify the other banks involved in the BDO hacki
MANILA - Financial transaction crimes rose especially during the pandemic as more people turned to digital platforms due to movement restrictions, but a monetary executive said affected accounts are less than 1 percent of the total. Melchor Plabasan, Bangko Sentral ng Pilipinas (BSP) Technology Risk and Innovation Supervision Department director, said the banking sector remains "generally safe". "So far, we have been checking the number of accounts that have been compromised not only with this incident but some of the phishing incidents and it's still way, way below 1 percent relative to the total size of the market," he said in a virtual briefing on Thursday. Plabasan said "the chances of you becoming a victim of this incident are very minimal." "But then, again, we are working with the industry to ensure that the losses will be reimbursed and industry will continuously upgrade their security system," he said. Recently, around 700 BDO Uniban