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Laos records 102 mln USD in trade deficit in April

VIENTIANE, May 19 (Xinhua) Laos recorded a trade deficit of 102 million U.S. dollars in April, the first trade deficit to be recorded in 2022 after three suc ....

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Banking sector still 'generally safe'

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 ....

Benjamin Diokno , Melchor Plabasan , Bangko Sentral , Innovation Supervision Department , National Bureau Of Investigation , Technology Risk , Union Bank , National Bureau , Philippine Payments Management Incorporation , Manila Financial Transaction Crimes Rose Especially During The Pandemic As More People Turned To Digital Platforms Due Movement Restrictions , Uta Monetary Executive Said Affected Accounts Are Less Than 1 Percent Of The Total Melchor Plabasan , Angko Sentral Ng Pilipinas Bsp Technology Risk And Innovation Supervision Department Director , Aid The Banking Sector Remains Quot Generally Safe So Far , E Have Been Checking The Number Of Accounts That Compromised Not Only With This Incident But Some Phishing Incidents And It 39s Still Way , Ay Below 1 Percent Relative To The Total Size Of Market , Uot He Said Ina Virtual Briefing On Thursday Plabasan Quot The Chances Of You Becominga Victim This Incident Are Very Minimal But Then , E Are Working With The Industry To Ensure That Losses Will Be Reimbursed And Continuously Upgrade Their Security System , Uot He Said Recently , Round 700 Bdo Unibank Accounts Were Victims Of Hacking Incidents And Some The Funds Transferred To Several Union Bank Philippines Unionbank Plabasan Said They Have Identified Six Persons Interest For Crime , Nd They Have Submitted The Information To National Bureau Of Investigation Nbi He Said Also Discovered That Some Proceeds From Fraudulent Transactions Were Transferred Other Banks Quot We Are Expanding Scope Our Because Surveillance Showing There May Be Institutions , Other Than , Mf Course , Hich Have Been Used To Funnel The Stolen Funds So , E Also Want To Get The Bottom Of That Particular Issue Or Concern , Uot He Added The Bsp Has Been Pushing For Wider Use Of Digital Payments , Nd Targets To Increase Its Share Half Of The Total Transactions By 2023 Asked If There Are Plans Change Processes In Using Instapay And Pesonet Prevent These From Being Used For Any Fraudulent ,