Bank of the Philippine Islands (BPI) on Wednesday reported an “internal data processing error” that repeated debit and credit transactions of depositors between April 27 and May 2.
The computer glitch caused affected accounts to either lose or gain money twice.
In an advisory posted on Facebook, BPI assured customers that the “double-posting” or “misposting” is being corrected and no account will lose money.
“We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently and that none of them will lose money from this incident,” BPI said.
BPI also denied social media posts saying the error was caused by hackers.
Pia Roman Tayag, head of Bangko Sentral ng Pilipinas’ inclusive finance and financial consumer protection, also clarified that the error was just a glitch.
“This was not a hack. Some clients are worried because of speculations circulating on social media. Just to make it clear, BPI immediate saw the error [and they] are now correcting it,” Tayag told radio DZMM.
Meanwhile, BPI President and CEO Cezar Consing advised those who may have more money in their accounts not to spend the money because it is not theirs and it would be corrected, according to a Philippine Star report.
Photo Credits: Retail News
