CIMB PH Users Report Unauthorized Transactions on Accounts; Issue Resolved but Cause Undisclosed

Several customers of Commerce International Merchant Bankers (CIMB) Bank Philippines reportedly experienced ‘unauthorized’ fund transfers from their account on April 26. According to reports, affected users took to social media to report the issue, with some claiming losses ranging from PHP 50,000 to PHP 500,000.  Notably, several users noted that the transactions occurred without receiving the usual One-Time Pin (OTP) verification request, raising concerns about the security of the Bank’s system.  

Read the full report here.