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Probe set

By: Hannah L. Torregoza

Senate Banks, Financial Institutions, and Currencies Committee chairperson Sen. Francis Escudero will hold a legislative probe into the series of unauthorized automated teller machines withdrawals that hit BDO Unibank Inc. and Bank of the Philippine Islands.

Escudero said he was prompted by the latest report of possible ATM fraud after BDO issued a statement yesterday about their ATMs being “potentially compromised.”

“Given the BDO reported incidents, I am constrained to call for a hearing on June 21 on these matters in order to appraise the public of what is going on and to placate speculations on this issue that may negatively impinge upon or affect the banking sector as a whole,” Escudero said.

He said representatives from BDO and BPI, and Bangko Sentral ng Pilipinas will be invited to the inquiry.