Bank of the Philippines Island has experience a data processing system glitch that reflects unauthorized transactions to BPI clients.
In an interview with ABS-CBN News, BPI President and CEO Cezar Consing explains the data processing glitch that affected its customers.
“We had a system glitch last night. We run a batch process that picked up the wrong file. It picks up the file for transactions dated between April 27 and May 2,” Consing said.
“What happened is, if you are a client and you transacted between April 27 and May 2, you may found your transactions recorded twice. If it is a debit, it would have been debited twice. If ti’s a credit, it would have been credited twice,” he explained.
“This is not a hack at all, this was an internal issue,” he said.
“We had to take our systems down this morning to allow us correct the mistake. For over the next few hours, we are making sure that the double credits and double debits corrected. I’d like to make emphasize that we make sure that no one at loss money,” he further explained.
Watch on the video below.
Below is the advisory from BPI regarding the system glitch:
Further to our announcement this morning, we have identified an internal system error that caused some transactions occurring between April 27 and May 2 to be double-posted as of June 6. We have identified the root cause of this error, and are temporarily suspending access to electronic channels to speed up rectification. All BPI branches will open on time this morning, and will continue to service your needs.
We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently, and that none of them will lose money from this incident.