16 June 2017



RON CRUZ (RC): Hi Sir. What would be the aim of this probe in the Senate?

SENATOR CHIZ ESCUDERO (CHIZ): The aim of the probe is to establish the factual basis behind what's been going on in relation to BPI and BDO amidst the reports that there have been problems in relation to their respective ATM machines. The aim of the probe is also to be able to inform the public the true reason and basis why these have been occurring in the past so many days and weeks. Also moving forward, in order to find out what has been done in order to avoid similar occurrences in the future.

RC: So just to clarify, this will not be limited only to the incidents involving BPI and BDO but it will jump off from those?

CHIZ: Well, we will get inputs from the BSP as well if they are in receipt of any report similar to what went on with BPI and BDO. But we will not make it an open hearing so far as asking each and every bank if indeed these similar situations are happening to their ATM machines as well. Ron, we'll also be very careful and sensitive with respect to creating panic on people and putting speculations that may affect our banking industry. Bear in mind that the BDO is the biggest bank and BPI is the third largest bank in our country.

RC: Do you think that the Bank Secrecy Law will somehow limit your probe as well?

CHIZ: I don't think so because this does not pertain to specific account. But should we be gearing towards that, the Senate has always an option of calling an executive session in order to avoid any possible violations of the Bank Secrecy Law.

RC: Now, the issuance of EMV cards Mr. Senator, initial reports has said the Bangko Sentral ng Pilipinas says has now a harder deadline which has been moved from its previous deadline this year, start of this year. Is that issue going to be raised as well why there was delay in the shifting to EMV cards?

CHIZ: Yes Ron, we intend to raise that as well but the start of our moving forward in our inquiry as well to find out what has been done, what is being done, what will be done to prevent similar occurrences in the future. Also we will look into the possibility of ensuring that there are enough safeguard should this happen again – whether because of human error or glitch, depending on what will come out in our hearing.

RC: Yes. You did earlier mention that this is already a main issue but, do you think that these incidents involving BPI and BDO has already affected public confidence on those banks, on banks in general banking sector?

CHIZ: I don't think so, Ron. So far we have not received reports to that effect and the glitch. We have been closely monitoring the situation; the same is true with the banks. We also have to guard against fake news with respect to this issue because some depositor, simply because they heard that there are problems with ATM machines with certain bank, logs complaint. And these complaints are and should be handled by the banks individually, specifically and wasting no time in order to placate any possible speculation with respect to their respective banks as well.

RC: Senator Chiz Escudero, I appreciate your time. Thank you very much for talking to us.

CHIZ: Thank you, Ron and good evening.





Copyright 2016. ALL RIGHTS RESERVED Office of Senator Chiz Escudero