Victims of bank hacking invited to file a complaint with BSP
A lawmaker said on Sunday that depositors who lost money due to hacking should file formal complaints with the Bangko Sentral ng Pilipinas (BSP).
Representative Michael T. Defensor of Anakalusugan said in a statement that victims should seek help if they are not satisfied with the way their cases have been resolved by their banks.
“The BSP has put in place an administrative mechanism to provide redress to aggrieved depositors who feel they have been treated unfairly by their banks,” Defensor said.
He urged disgruntled bank customers to email the BSP consumer helpline at [email protected]
Defensor, meanwhile, rejected general disclaimers in the general conditions governing bank accounts as membership contracts “which cannot be enforced when depositors lose money under conditions where they do not. are not at fault ”.
“If you are a perfect depositor and you lose money because the bank’s computer system has been hacked and illegal transfers have been made from your account, then the bank has no other choice. than to pay off your losses, ”Defensor said.
“Certain provisions of bank membership contracts, such as massive disclaimers, can be overturned or ignored by regulators and courts, if it turns out that innocent depositors have lost money due to loopholes. security in the bank’s computer system “, explained the legislator.
DEFENSOR was responding to controversy surrounding BDO Unibank Inc.’s alleged inclusion of a blanket disclaimer in its terms and conditions after hackers stole funds from hundreds of depositors.
The disclaimer states that the bank “will not be liable for losses resulting from improper or fraudulent access to online bank accounts.”
BDO, the country’s largest bank by assets, in a statement, categorically denied updating its terms and conditions with the warning, saying the clause has been around “for a long time.”
BDO also clarified that no changes were made to its terms and conditions after the cybercrime incident that affected hundreds of its customers earlier this month.
A few weeks ago, BDO was the target of a cybercrime incident in which money was unknowingly transferred from BDO account holders to a certain “Mark Nagoyo”, who has multiple accounts at UnionBank. of the Philippines Inc.
BDO said it is currently processing refunds for nearly 700 customers affected by recent fraudulent online transactions.