Persons of Interest Identified For BDO-Unionbank Cyber Fraud

MANILA, Philippines — Six individuals are currently under investigation for the recent cyber fraud attack against BDO Unibank Inc. where nearly 700 clients were scammed. The attack involved illegally transferring BDO clients’ funds to UnionBank accounts. 

On Sunday, there was an onslaught of social media posts over the unauthorized bank transfers. This alarmed Bangko Sentral ng Pilipinas (BSP) who later advised both banks to take safety measures. 

Six individuals are currently ‘persons of interest’ for the recent case of cyber fraud. | IMG Source: Philippine Star

During a press briefing on Wednesday, a Unionbank spokesperson said that they have already filed an investigation with the NBI and PNP. The bank took the information they gathered and sent it to both parties to help with the investigation. All following reports will also be forwarded to BSP. 

“As one of the receiving banks, Unionbank stands in solidarity with the entire banking industry and the relevant government agencies in fighting against the cybercriminals. We are collaborating closely with BDO. In fact, we’ve started collaborating even over the weekend,” Aguda said. He also called on the public to reveal any information they have regarding this illegal laundering process. 

In a separate event, Vice President and SME Segment Head of Unionbank, Jaypee Soliman, warned the public about protecting their own data. He told people to be wary of compromised emails and bogus online ads. Soliman also gave pointers on how to avoid phishing attacks. He advised companies to have an early detection system, a response mechanism, and an immediate recovery plan. Lastly he gave out advice to individuals, reminding people to ‘think before you click’, enable authentication methods, protect personal information, and use trusted and verified sites. 

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