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Philippine lender did not lose deposit in "cyber incident"



(Reuters) – The Philippine central bank said on Thursday that no account holders' funds had been lost at United Coconut Planters Bank after the state lender reported that it had suffered a "cyber incident" earlier this year.

the central bank would ensure the security and integrity of the financial system and the protection of financial consumers, central bank governor Benjamin Diokno told reporters.

"Bangko Sentral ng Pilipinas is well aware of the reported UCPB incident and has been in close coordination with the bank since the early part of its investigation," Diokno said.

UCPB, the country's 13th largest asset licensing bank, said it was reviewing and strengthening its information technology and security controls following the June incident.

"UCPB remains … a strong and profitable institution," the bank said in a statement on Thursday.

The bank did not comment on any losses incurred, but the Philippine Daily Inquirer report d that the UCPB lost 1

67 million pesos ($ 3.44 million) from criminals through automatic cash withdrawals and electronic fund transfers. was deposited with two Philippine banks, a claim denied by the central bank and lenders.

Nevertheless, the case has increased fears that fraudsters are targeting the Southeast Asian country's financial system. order on the SWIFT payment system to steal $ 81 million from Bangladesh's bank account at the Federal Reserve Bank of New York. The money was sent to accounts in Manila-based Rizal Commercial Banking Corp. and then disappeared to Philippine casinos.

On Thursday, the Ministry of Finance and the Anti-Money Laundering Council signed an agreement to cooperate to detect, investigate and prosecute anyone suspected of money laundering or involvement in terrorist financing. Catalog

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