BDO Starts Investigation About Unauthorized Account Compromise Reports

Over the last couple of months, there have been reports about unauthorized withdrawals and purchases complained about bank account holders.

In a statement that was issued on Tuesday night, BDO did not deny it and has admitted that there were indeed reports these last couple of months.

BDO Image
By Hanzzzzz07 (Own work) [CC BY-SA 4.0], via Wikimedia Commons

“there has been an increased number of clients that have experienced suspicious bank account transactions involving withdrawals and purchases done without their knowledge.”

Some of these reports were posted by account holders from the Philippines and the other countries, through their social media accounts.

In response to it, BDO, the banking arm of the SM Group,
said that in the 4th quarter of 2017, there had been an “extraordinary” rise in fraud attacks towards the entire industry along with an increase in the number of claims for unauthorized transactions taking place in other countries.

“We are currently running a thorough investigation process that involves tracing individual transactions, checking any irregularities and identifying signals of fraud from millions of valid transactions every day,”

“This challenging task is done to ensure that all cases are addressed accordingly and that a resolution is served for all valid cases.”

In the said statement, BDO also reminded their clients to always keep all their important information about their accounts private. They also reminded them of people who may ask for their details through phone, SMS, websites, or emails.

“Unscrupulous individuals and groups are constantly preying on unsuspecting clients to collect their bank information through skimming, phishing, social engineering, and other devious ways,”

Clients are asked to be careful who they entrust their details to.

If you are one of those who have been victimized by unauthorized withdrawals or purchases, you are encouraged to send an email to ([email protected]), or you can reach them at their international toll-free number (IAC +800-8-631-8000), or its domestic hotline (631-8000).

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