Churls Lynrey C.

Opiala 11-Canopus

BPI DEBIT MEMO:Safe And Secure

On June 7, 2017, the Bank of the Philippine Islands (BPI) suspended its online
transaction and automatic teller machine services amidst reports of money missing from its account
holders. There was speculation that BPI was compromised by hackers but the bank claimed that the
problem was caused by an internal data processing error. The scope of the issue was nationwide
according to the bank and also said that only a small portion of its customers were affected and that most
of them were in Metro Manila. It was reported that the value of some transactions made from April 27 to
May 3, 2017, were doubled. The bank issued a statement that they were resolving the issue and assured
that its clients would not lose any money.

BPI's stocks in the Philippine Stock Exchange remained unaffected in response

to the incident. Luis Limlingan, head of research and sales at Regina Capital Development Corporation
viewed that most investors could have seen the incident as a one-off event that could be resolved.
According to Limlingan the real problem was how BPI dealt with its disgruntled customers. According to
Limlingan the real problem was how BPI dealt with its disgruntled customers. The operations of the
Ayala-led Bank of the Philippine Islands (BPI) suffered a glitch as clients flooded social media with
complaints about unauthorized withdrawals, a repeat of an “internal systems error” that hit the listed bank
in June 2017.

TOPIC PROBLEM PURPOSE STATEMENT RESEARCH QUESTION?

BPI So Many BPI users Affected To make sure that the BPI users will trust Are the BPI users are still safe and
DEBIT by a Hackers again the BPI bank with their money secure?
MEMO: Safe
and Secure