BDO Unibank Inc., the country's largest bank, assured the public that "there is no cause for alarm" over the reported glitch that caused unauthorized transactions in some customers' accounts.
"ATMs (automated teller machines) are compromised every now and then, with skimming being the most common form," the bank said in a statement Friday, June 16.
The bank said it has taken the "precautionary measure" to disable cards believed to have been compromised.
Customers whose cards have been disabled can transact over the counter at BDO branches anytime, the bank added.
The bank has over 1,000 branches and more than 3,000 ATMs nationwide aside from about 200 cash accept machines.
Complaints from BDO customers about unauthorized bank transactions and losses erupted on social media Friday.
The bank said customers with unauthorized transactions may "reach out to the bank via formal channels so that their cases may be properly investigated and, where confirmed as impacted, may be reimbursed."
The BDO glitch occurred a week after Bank of Philippine Islands, third largest bank in the country, suffered an internal system glitch that also caused unauthorized deposits and withdrawals.
Banks are given until June 30 next year to fully migrate to EMV technology, or face monetary sanctions.
The Bangko Sentral ng Pilipinas, in a statement earlier, said the Monetary Board (MB) has approved the supplemental guidelines on EMV migration requirement.
"The guidelines prescribe a hard deadline for compliance as well as clearly defined consequences for non-compliant institutions," the central bank said. (Marites Villamor-Ilano/VoxPop Philippines)
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