LOOK: BPI account holder became an instant billionaire because of the BPI glitch

On Wednesday morning, many account holders of the Bank of the Philippine Islands (BPI) were shocked because of unauthorized transactions on their account. Many claimed that their accounts were debited with much amount of money.

Photo from BPI

Bank of the Philippine Islands President and CEO Cezar Consing quickly apologized to their customers who were affected by a system glitch. "I apologize very earnestly and very sincerely to our clients who had been adversely affected by this," he said.



Consing explained that the unauthorized transactions were not caused by hacking but a system glitch.

"This is a data processing glitch. I have to emphasize: this is not a hack at all. This is an internal issue, and so what we have to do is we had to take our systems down this morning," he said.

The system glitch also caused illegitimate crediting of funds to some of the account holders. Recently, the Facebook page of YugaTech, posted a photo showing an unidentified man's BPI account.

The post showed the account containing 12,435,323,567.04 Pesos. After the BPI glitch, the owner of the account suddenly became an instant billionaire.

Photo from Yugatech

The photo was captioned as: "One depositor is just too happy with the BPI glitch. #bpibillionaire"

Because of what had happened, the BPI suspended their log-in on online transactions to speed up fixing the issue.



The unauthorized transactions were also corrected according to the Bangko Sentral ng Pilipinas Inclusive FInance and Financial Consumer Protection Head Pia Roman Tayag.

"They (BPI) assured us na within the day, maaayos ito. No customer's fund will be lost," she said.

BSP also denied the issues saying that there are hackers behind the incident.

"Hindi po ito na-hack. May mga natatatakot po kasi na ito ay hack daw po -- ito ang umiikot na balita sa social media. Para to make it clear at hindi rin po matakot, nakita agad ng BPI ang they are correcting it immediately po," ayon kay Dir. Tayag.

Source/s: Filipino Community, YugaTech

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