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Beware BDO account holders - PLEASE READ!!!

Today I found out that one of my worst fears as a small business owner has been realized--the BDO account we've been using to receive payments from our customers has been HACKED. I have read many reports about the rising number of BDO fraud cases and that's why I make it a point to check our balance regularly through BDO online banking. I was checking our balance this afternoon and to my absolute shock--around Php 50,000 has been debited from our account by an unknown account indicated in the activity summary as W/D FR SAV PORTMAN SQ LONDON MC GBR (see screenshots).

There were 4 consecutive withdrawals from the account and service charges were debited 6 times. Because of the service charge and the name of the account, we suspect the fraudulent transactions happened overseas.

We don't have trips out of the country and we make it a point never to use the ATM card of this account unless necessary to minimize our risk of being victimized by fraud activities like this. In fact the last time we used the card to withdraw was December 26 at Megamall. Unfortunately, after all the measures we took to protect ourselves, we were still victimized.

We immediately went to BDO to report the issue and had the account blocked but to our disappointment, we were informed that investigation can take up to 60 BANKING DAYS. Can you imagine if you were relying on that money for a critical need such as hospital bills? The worst part of this experience is learning that BDO HAS ONE JOB--TO PROTECT YOUR MONEY, MONEY YOU WORK HARD FOR--AND THEY CAN'T DO IT.

We are hoping that BDO will return the money they failed to secure but we are extremely worried because we've been reading similar cases here on Facebook and some of them have failed to get a resolution up to now. The amount of KNOWN fraud cases in BDO right now is STAGGERING. See here:


These are cases where the account holder became aware of the issue. How many have been unknowingly victimized and are not reporting it? It is sickening that one of the biggest banks here in the country cannot protect its account holders. This is a huge problem for me as a small business owner because lots of our customers pay through BDO, so I have no choice but to keep on using BDO even though I know they have severe security issues.
If you have other options, pulling out your money from BDO would be wise at this point!.

(c) Ericka Ang Evangelista

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