List of 10 Major Philippine Banks in BSP CBDC Project
By involving the banks that hold significant market share, the BSP said it aims to have more substantial findings and results for its pilot CBDC project.
BDO Joins CBDC Pilot Study for US – PH Remittance
Discover how digital currencies may transform cross-border payments, making them faster and more efficient, thanks to this study by the Digital Dollar Project, Western Union, Accenture, and Philippine bank BDO.
BDO’s New Mobile Banking Platform Received Mixed Reviews From Users
The app has received a low rating due to issues reported by users such as errors and incorrect credentials.
Sen. Poe: BSP Must Publicize Sanctions to BDO, UnionBank
The senator added that bank depositors expect full accountability and recompense for damages and losses incurred.
BSP to Impose Sanctions on BDO and UnionBank over 2021 Hacking Incident
UnionBank also added that “there were no monetary penalties” and that all the recommendations of the BSP to avoid similar incidents had been implemented.
BDO Itinangging Binago Nila Ang Kanilang Online Banking Terms Dahil sa ‘Nagoyo’ Scam
Itinatanggi ng BDO na kanilang binago ang kanilang mga ‘terms’ at sinabi rin nila na “walang nadagdag na clause nang dahil sa nakaraang insidente.
BSP Reminds Banks to Treat Customers Fairly
Further, the memo pointed out that banks are required to exercise a “high degree of diligence” as jurisprudence charges banks with the “obligation to treat their client’s account with the highest degree of care.”
Veteran Columnist: Does UnionBank have weak KYC?
UnionBank was recently involved with the “Nagoyo” scam where BDO accounts were hacked by a scammer named “Mark D. Nagoyo”, who has multiple UnionBank accounts, the cybercriminal stole up to P25,000 thousand to P50,000 pesos per account.
BDO Denies Changing Online Banking Terms Due to ‘Nagoyo’ Scam
BDO has denied changing its terms and conditions for online banking stating that these have long been in place.
[UPDATE] Crypto Community Reacted to BDO Hacking Incident
In a statement, BDO acknowledged the “sophisticated fraud technique” and assured their account holders that they have already implemented additional security measures. Furthermore, the bank said it will reimburse their customers’ losses.