BDO on Tuesday said it started processing the reimbursement of close to 700 clients who lost money to a hacking of its online banking system.
"We have requested our clients to go to their branch of account and submit documentation to get the refund. The Bank will shoulder the losses perpetuated by this cybercrime incident," BDO said in a statement.
Users on Saturday posted their experiences of fraudulent transactions, wherein amounts of up to P50,000 were deducted from their accounts without any OTP prompts, clicking of links, or opening of messages or e-mails from scammers.
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Bangko Sentral ng Pilipinas Governor Benjamin Diokno said he was in touch with BDO Unibank to take remedial measures including reimbursements.
"Rest assured that we continue to collaborate and engage stakeholders to ensure the safety and integrity of the financial system as well as the protection of financial consumers," Diokno said.
BDO said it would continue to work closely with authorities from the central bank to prevent more cases of fraudulent transactions.