4 days Ago
The Bangko Sentral ng Pilipinas (BSP) on Tuesday said it has instructed digital-only commercial lender CIMB Bank Philippines to address the root cause of the unauthorized fund transfers that affected some of its customers last week. “The BSP maintains ongoing engagement with CIMB and stands ready to take the necessary supervisory actions in pursuit of its commitment to uphold the integrity, stability, and resilience of the Philippine financial system,” the BSP said in an emailed statement. GMA News Online has reached out to CIMB for comment on the matter, but no response has been received as of this posting.
This comes as CIMB over the weekend said some of its customers were affected by unauthorized transfers on Saturday evening, April 26, but maintained that its core banking system and customer data remain secure and intact. CIMB said it has started the reversal of funds to customers impacted by recent unauthorized transfers, as it apologized for the inconvenience and assured that its core banking system and customer data “remain secure and intact.” The bank on Sunday afternoon said it has resolved the issue of such unauthorized fund transfers , and that all impacted customers have had their funds returned.
It did not disclose the total scope or value of the transfers. “Based on the latest updates from CIMB, the funds of all affected customers have been restored to their respective accounts. CIMB is also conducting a thorough investigation to prevent recurrence of similar incidents,” the central bank said.
CIMB in February said it aims to add 1 million users to its platform this year to reach a 10-million customer base , and to increase its loan customers up to 4.7 million this year from 4 million in 2024. It closed the past year with P800 billion in transactions and P100 billion in loan disbursements.
— BAP, GMA Integrated News.
