Wednesday, 9 March 2016

Bank exec assures: PH banks secure from hackers

A TOP executive of the Cebu Bankers’ Club (CBC) has assured the public that banks in the Philippines remain secure despite recent news of scams and frauds.

Maximo Rey Eleccion, CBC president, gave the assurance yesterday amid a report that  about $100 million was  hacked from the Bangladesh Bank and transferred to a Philippine bank based in Manila.

Eleccion said the Bangko Sentral ng Pilipinas (BSP) and the Philippine banks are still very secure and stable

“The public does not have access to the central bank. Only banks have accounts with the BSP. To the general public, our banks are already improving security measures just to prevent these things from happening to us,” Eleccion told Cebu Daily News in a phone interview.

SECURITY MEASURES

Among the security measures strictly imposed by all banks to minimize the likelihood of automated teller machine (ATM) frauds are daily withdrawal limits and fast notifications of large transactions from banks. For the full article click here  



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