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Nov 4, 2017 @ 12:47

No sanctions for BDO after card skimming cases


The biggest bank in the Philippines didn’t get fined for the card fraud incidents.

BDO Unibank, Inc. has not been slapped with penalties over the reported cases of card skimming back in June, The Philippine Star said in a news report.

The Star quoted a ranking official of the Bangko Sentral ng Pilipinas (BSP) that there were “no sanctions” imposed on the Sy-owned bank despite multiple card skimming cases which victimized depositors back in June 2017.

Data capturing devices implanted on several automated teller machines allowed thieves to copy depositor data and passcodes to gain access to their accounts and withdraw money.

The BSP official, however, said the bank has been generally compliant with regulations, including the migration to using microchip-based cards ahead of the June 30, 2018 deadline.

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