BPI glitch a case of internal breach – National Privacy Commission

Workers at the Philippines’ top lender Banco de Oro (BDO) Unibank, Inc., busy processing transactions inside the BDO main building in Makati city, metro Manila, Philippines June 23, 2016. REUTERS/Romeo Ranoco/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH "BUSINESS WEEK AHEAD AUG 1" FOR ALL IMAGES (REUTERS)

The House of Representatives has conducted its own hearing on Thursday over the glitches in the banking system of BPI and BDO Unibank, following the Senate’s own inquiry.

While they already fixed the glitches, BPI president Cezar Consing said millions were mistakenly withdrawn from accounts of their clients after a human error interrupted their system.

“The amount mistakenly withdrawn from BPI totaled P46 million . . . there were mispostings and because there was an amount that in some cases were mistakenly withdrawn,” he said.

Despite the problems, BPI guarantees that the system they are using is still safe.

“Nagkakataon naman po talaga na may magkakamali (It happens at times that someone makes a mistake). Combination of process, technology and people, normally, people ang nagkakamali (make the mistake). Ang importante mayroon kang safeguards sa system mo na puwede mo irecover (What’s important is that your system has a safeguard that allows you to recover). And I can assure you sa (at) BPI we have a resilient infrastructure,” BPI Enterprise Services Head Ramon Jocson said.

While BPI denies a data breach, the National Privacy Commission (NPC) said they believe otherwise.

They said the availability and confidentiality of bank information of BPI clients have been compromised.

“When you say that a certain data processing system like the ATM system or the banking channel system becomes unavailable to individual or unauthorized changes such as mispostings, then definitely this is a breach,” NPC deputy commissioner,  Atty. Ivy Padtu said.

The Bangko Sentral ng Pilipinas (BSP), meanwhile said, the BPI case is an isolated one, and there are no evidence proving that it’s a case of hacking.

Despite this, the BSP and the NPC are conducting separate investigations.  NPC is also checking for the BPI’s compliance to protocols.

Meanwhile, the BDO Unibank is now considering modernizing their ATM cards to prevent cases of skimming which happened to seven of their ATM’s recently.

“The industry ,with the help of BSP, is taking the next precautionary measure — iyon pong tinatawag na EMV (Europay, Mastercard and Visa),” BDO President Nestor Tan said.

EMV is the global standard for credit, debit, and prepaid card payments using the chip card technology.

“Lalagyan na nito (It will be embedded) which is more difficult to read at mayrooong pong security measure iyan (it contains security measures),” Tan added.

The Department of Information and Communications Technology (DICT) has suggested the use of other security features that can be added to the ATM, such as fingerprint technology and heat signatures. – Joyce Balancio | UNTV News and Rescue

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