BDO reimbursing funds of latest cybercrime-affected accounts

MANILA – Nearly 700 clients of Sy-led BDO Unibank Inc. affected by the recent fraudulent online transactions will be refunded for their affected funds.

In a statement on Tuesday, BDO said the bank “has been processing the reimbursement” for its clients.

“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,” it said.

The bank added it “has been working closely with the appropriate authorities and the Bangko Sentral ng Pilipinas (BSP) to prevent further occurrence.”

BSP Governor Benjamin Diokno earlier said they are in close coordination with BDO and the Union Bank of the Philippines (Unionbank) to address the issues.

“BSP will do everything to ensure the safety and integrity of the financial system as well as the protection of financial consumers,” he added.

Over the weekend, some of the affected clients took to social media to disclose the incidents and said funds taken from their accounts were either transferred to several Unionbank and e-wallet accounts.