BPI seeks stiffer penalties for ATM skimming


Posted at Jun 24 2017 03:53 AM

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Bank of the Philippine Islands Executive Vice President Ramon Jocson said the penalties are not commensurate with the crime in ATM skimming, considering each ATM can carry as much as P4 million.

Jocson also said the June 6 glitch was caused by human error and that BPI systems are intact.

He added that the bank spends P300 million every year for cyber security but it is also putting more measures in place to ensure the glitch does not happen again. - Business Nightly, ANC, June 23, 2017