Before you read
Subject: The Bank of the Philippines Islands (BPI) says a major system glitch led to customers being hit by unauthorised money withdrawals and deposits
Excerpt: English text from the archived bilingual edition · Chinese edition
Reference text and retained source material
The Bank of the Philippines Islands (BPI) says a major system glitch led to customers being hit by unauthorised money withdrawals and deposits
The problematic transactions reached up to thousands of pesos. Some users claimed on social media that their accounts had even gone into the red
BPI chief executive Cezar Consing apologised on Wednesday morning in an interview with a local TV station
"Over the next few hours, we are making sure the double credits, debits are corrected," he told ANC
Account holders on social media are claiming to have lost anything from 4,000 pesos ($80) to up to 100,000 pesos
In a statement posted on Twitter, BPI said some clients might have seen their accounts debited twice or credited twice for a past transaction
It said they had suspended access to electronic banking while errors were corrected
However, the move caused other BPI customers to complain they now can’t check their accounts to see if they were affected
BPI had nearly 8 million clients and 1.4tn pesos in total deposits at the end of 2016, according to its latest annual report
The 165 year-old BPI counts Philippines conglomerate Ayala and Singapore sovereign wealth fund GIC among its major shareholders
Language and reading: using this material
Compare wording, tone and information order across complete passages. Positions, prices, policies, exams and statistics retain their original context and should be verified before practical use.
