BSP slaps sanctions on BDO, UnionBank

By Mayvelin U. Caraballo

Apr 29, 2022 12:09 am

THE Bangko Sentral ng Pilipinas (BSP) imposed sanctions on BDO Unibank Inc. and Union Bank of the Philippines (UBP) for a cybercrime incident that occurred in December of last year.

The central bank said in a statement on Thursday that it has completed its investigation into the incident originated from a compromised web service, which entailed unauthorized access to BDO accounts and fund transfers mostly to UnionBank accounts.

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