CIMB Bank fixes unauthorized fund transfers after complaints

MANILA, Philippines — CIMB Bank Philippines said it has returned the funds to customers affected by unauthorized transactions that occurred on Saturday night, while the Bangko Sentral ng Pilipinas (BSP) vowed to continue monitoring the situation to protect consumer welfare.

In a statement issued yesterday, CIMB assured customers that the incident of unauthorized fund transfers had been “resolved,” and that “all affected customers have had their funds returned.”

The bank said that its core banking system and customer data “remain secure and uncompromised.”

“Protecting customers’ security continues to be the bank’s highest priority,” CIMB said, adding that it is taking additional steps to further strengthen its systems.

“We regret the inconvenience this incident may have caused and are taking all necessary steps to strengthen our systems further. We wish to thank our customers for their patience and understanding, and we remain fully committed to serving you with the highest standards of security and service,” it added.

In a separate statement, the BSP said it is closely coordinating with CIMB regarding the incident and confirmed that the bank has already started restoring customer balances, based on its preliminary report.

“The BSP will continue to monitor the issue until it is fully resolved. The BSP remains committed to safeguarding the security of the financial system, protecting consumer welfare and maintaining public trust,” the central bank said.

Over the weekend, numerous CIMB account holders took to social media to report unauthorized withdrawals, with some users claiming to have lost amounts ranging from thousands to hundreds of thousands of pesos.

Customers also complained about being unable to reach CIMB’s customer service hotlines at the height of the issue. A user said they were the 32nd caller to the BSP, noting that other CIMB clients had also flagged missing funds.

CIMB advised customers to reach out through the Help Center in its app or via its official website for any additional concerns. Deposits remain insured by the Philippine Deposit Insurance Corp. up to P1 million per depositor.

The BSP, meanwhile, reminded the public to stay vigilant and refer only to official announcements from financial institutions and regulators.