After a chaotic weekend that involved multiple BDO users losing their money in a hacking incident, partylist group Bayan Muna filed a house resolution calling Congress, specifically the Committee on Banks and Financial Intermediaries, to investigate the incident. In its house resolution filing, Bayan Muna explains that “Congress should protect the welfare of the Filipino […]
Right before the year 2021 ended, a viral piece of financial news broke the internet: Bando de Oro (BDO) had been hacked, leading to losses for users. To sum it all up, there was an advanced phishing scam in place which managed to bypass security measures such as 2FA. Those who fell victim lost in […]
Reiterating its commitment to give back what was lost due to the online hacking incident, BDO issued a new statement, saying that they are “processing the reimbursement of close to 700 clients affected by the recent online fraudulent transactions.” While we’re not sure how many were affected by the online hacking incident, but BDO’s figure […]
(UPDATE) BDO issued a new statement, explaining that they are aware of the sophisticated fraud technique that was done to their system. Aside from requiring all of their users to change their passwords, they assure that they will reimburse the losses of affected clients. After multiple users reportedly lost large amounts of money to an […]
As it is upgrading its system, BDO sent an advisory to all of its BDO Securities (formerly BDO Nomura) account holders that effective January 30, you can only request a One-Time Password (OTP) only via SMS for both the desktop and mobile app. This means that all users should make sure that their registered mobile […]
While BDO is still reeling from the effects of the losses it incurred due to a massive hacking incident, a number of accountholders questioned a particular clause under its terms and conditions. Under the liability section, it said that BDO is not liable for any loss or damage “arising out of any improper, fraudulent access, […]
(UPDATE): Ellard Chua posted on his Facebook, saying that his name was used in one of the hacking incidents. In addition to that, Chua added that his account was compromised, losing over Php 50k in an unauthorized bank transfer to a Unionbank account allegedly belonging to Mark Nagoyo. Multiple BDO customers have allegedly been targeted […]
Just like the trend that Visa’s Consumer Payment Attitudes Study revealed for 2022, the trend for Filipinos going cashless continues in 2023. READ MORE: More Filipinos Use Mobile Wallets, Contactless Payments in 2022 In its latest infographic, Visa notes that cash payments have went down to 87% in 2023 compared to 96% in 2022, and […]
While the BSP and the NPC are set to conduct their own investigation as to what happened to GCash last May 8, the -e-wallet platform has sent us an official statement explaining what happened. Reiterating their previous comments, GCash explained that “no hacking nor glitch” occurred in their platform. Instead, GCash said the May 8 […]
(UPDATE 2): GCash CEO Martha Sazon has issued a statement, and said that GCash was not hacked based on their investigation. She also assured that “any deduction from a GCash account will be adjusted before 3PM today.” (UPDATE 1): GCash is reportedly working for some people, and those trying to log in are asked to verify […]
The Department of Transportation (DoTr) has started to roll out contactless payment methods for PUV passengers. This is a welcome addition for those who don’t normally bring cash along with them on an everyday basis for hygiene or safety purposes. Of course, we can hear the barrage of jokes incoming when someone brings out their […]
Following reports of Converge being hit by a data breach, the company immediately issued a statement, stating that “apart from the potential unauthorized viewing of the personal information, we have no evidence to date that any personally identifiable information has been misused. The statement explained that the breach involved the GoFiber app of Converge, where “a small […]