BDO apologizes for fraud incidents

By: Inquirer.net January 10,2018 - 09:41 PM

FACING snowballing complaints of unauthorized transactions, the country’s largest lender BDO Unibank apologized to customers and vowed to devote more manpower to fraud investigation.

“We want to let you know that we are very much aware of customers sharing their upsetting experiences of bank account fraud such as withdrawals and purchases done without their knowledge,” BDO said in a press statement on Wednesday.

“We sincerely apologize for the pain and grief that this caused our customers. Nothing is more important to us than your trust that we will be able to keep your money safe and secure. We would like to reassure you that we are committed to investigating and bringing resolution to each and every case brought to our attention,” the bank added.

BDO, the banking arm of the SM group, admitted an “extraordinary rise” in fraud attacks towards the entire industry starting October of last year. In particular, it reported a significant increase in claims of unauthorized online and offline purchases taking place in other countries.

“Given these extraordinary times we are committed to providing extraordinary short-term and long-term measures. We have significantly increased our human resources focused on fraud investigation. We have committed to a long-term effort to educating the public on how to better protect their account information.”

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TAGS: apologizes, BDO, fraud, incidents

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