BPI reports ‘internal data processing error’

Ayala-led Bank of the Philippine Islands reported on Wednesday an “internal data processing error” that had led to discrepancies in bank account balances complained by some clients.

BPI also apologized for the inconvenience caused by the error, vowed full resolution within the day and assured that no client would lose money over this incident.

Social media users suspected a hacking incident behind the error but this was refuted by bank officials. BPI executive vice president Simon Paterno said in a text message: “not a hacking.” Later in the morning, BPI president Cezar Consing reiterated in a television interview that this was not a hacking incident.

“Due to an internal data processing error, some clients may have seen their accounts debited twice or credited twice for a past transaction,” BPI said in its official social media advisory.

“We are currently correcting the mispostings,” the bank said.

BPI’s official advisory on June 7, 2017

In a follow-up statement on Wednesday morning, BPI said it had identified an internal system error that caused some transactions occurring between April 27 and May 2 to be double-posted as of June 6.

“We have identified the root cause of this error, and are temporarily suspending access to electronic channels to speed up rectification. All BPI branches will open on time this morning, and will continue to service your needs,” the bank said.

“We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently, and that none of them will lose money from this incident.”