Jan Allen Gerado 11-Canopus

BPI DEBIT MEMO: Safe And Secure

THE Bank of the Philippine Islands (BPI) has announced it has resolved the
issues surrounding duplicate transactions, through the so-called " 0431debit memo" that trended online on
Wednesday. "We are pleased to inform you of the successful resolution of the duplicate transactions on
affected BPI accounts," the BPI announced on their social media platforms. However, some users
experienced some intermittent access with the bank's website and mobile applications because of multiple
inquiries. "Given the high volume of inquiries on our online banking channels, you may experience
intermittent access to our web and mobile app platforms," the bank wrote. "Rest assured that your account
is safe and secure." On Wednesday morning, netizens complained about significant deductions to their
BPI bank accounts, including some which were inaccessible. The Bangko Sentral ng Pilipinas had also
urged BPI to submit a timeline on the incident.

BPI reiterated what it always say every time it had to resolve technical glitches.
“(We are) committed to review and improve existing systems, processes, and controls to address gaps and
pursue enhancements to prevent recurrence” and that BPI “worked to reverse the duplicate transactions
and the issue was resolved, as committed, within the day.” BPI account holders’ automated teller
machines, cash accept machines, point-of-sale and e-commerce debit transactions from December 30 to
31, 2022 were posted twice. The Bangko Sentral ng Pilipinas (BSP) said it has instructed BPI to submit
regular updates after it issued an advisory on its social media accounts on Wednesday, including timeline
on the reversal of its “erroneous transactions”. The BSP also assured the banking public that “it is closely
coordinating with BPI in relation to the double debit transaction incident affecting BPI accountholders.”
“(BPI) already identified the root cause of the operational error and committed to reverse the erroneous
transactions and restore mobile and internet banking services the soonest possible,” said the BSP.

TOPIC PROBLEM PURPOSE STATEMENT RESEARCH

QUESTION?

BPI About duplicate transactions, To make sure that many BPI users trust Are the many BPI users
DEBIT through the so-called " 0431debit the BPI Bank Again are still be safe and
MEMO:Safe And Secure memo" secure?