Recent bank hacking incidents in the country may be a case of inside job, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Tuesday.
BSP earlier said that they are coordinating with the affected banks, BDO Unibank and Union Bank of the Philippines, to take remedial measures following the hacking incident.
“I’m sure there is an employee involved because given the extent of hacking, there are many cases and it all came at the same time, right? So, I think there’s an inside job,” Diokno said on Teleradyo’s Kabayan.
“But we leave it to the two banks to investigate and we are also investigating,” he added.
Diokno noted that the hacking incidents happened while the banks were transitioning into a new system.
“They have to invest in a better technology. In fact, they may have been attacked because they are transitioning,” he explained.
“Usually, that is what happens when transitioning from the old system to the new system, there is somebody from the inside who will look at the system’s weaknesses,” the governor continued.
Diokno advised the public to practice cyber-hygiene by changing their passwords regularly.
“On the part of the client, I advise them to change their passwords. You cannot have the same password for 10 years. You should periodically change your password. That is what you call cyber-hygiene,” the governor recommended.
He also told individuals victimized by the hacking incidents to immediately call their respective banks and report the matter.
“Well, first, call the attention of the bank and when they do not respond to you, you can always call Bangko Sentral,” Diokno said.
Bank clients lose over P1 billion to cybercrime. Amid rising cyber-attacks, Dominguez urges shared defense systems among gov’t agencies. (©Philippine Daily Inquirer 2021)
