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Senate to Investigate Alleged Computer Glitch in Banking Financial System – PIMENTEL

 

Senate President Koko Pimentel lll said he would seek a legislative inquiry into the alleged computer glitch that hit the financial system of the Bank of the Philippine Islands (BPI) Monday, causing inconvenience and panic among several bank clients.

Pimentel said that the “internal data processing error” which the BPI admitted to have ruptured its data processing system resulted in discrepancies in the bank account balances, debits for some and increases in the bank statements of other depositors.

The senate chief said that the computer fiasco is a dangerous occurrence even as the BPI assured the public that the so-called internal data processing error was not a case of hacking as spontaneously reported by social media users in their public accounts.

He said that the proposed Senate inquiry will delve into the bank’s security protocols, adding the root cause of the data error must be fully explained by BPI to reassure the public that a similar incident would not occur again in the future.

Pimentel said that local banks must be on the lookout for a possible cyber attack as hackers worldwide have already victimized a number of banking institutions despite safeguard measures to pre-empt the commission of the crime.

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