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BPI has been instructed to inform BSP about fraudulent transactions

The Bangko Sentral ng Pilipinas (BSP) has urged the Ayala-led Bank of the Philippine Island (BPI) to provide regular updates on the reversal of incorrect transactions that numerous BPI account customers suffered over the weekend.

The central bank said in a statement on Wednesday that it was working with BPI on the double debt transactions that have impacted an unspecified number of BPI account holders.

The statement read: “The Bank already recognized the underlying cause of the operational issue and pledged to undo the incorrect transaction and restore mobile and internet banking services as soon as practicable.

BSP Deputy Governor Chuchi Fonacier said that they have not received any information from BPI detailing the number of impacted account holders, the volume, and the value of the incorrect transactions.

Still not. Awaiting the bank’s update,” the woman stated.

BPI reported on Wednesday that transactions made through automated teller machines (ATMs), cash accepting machine (CAM) deposits, point of sales (POS), and e-commerce debit transactions were posted twice between December 30 and December 31, 2022.

It issued a statement saying, “Please be notified that we expected repair of the duplicate transactions within the day.

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