May 25, 2018, 8:32 pm
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1 Philippine Peso = 0.06987 UAE Dirham
1 Philippine Peso = 2.04394 Albanian Lek
1 Philippine Peso = 0.03405 Neth Antilles Guilder
1 Philippine Peso = 0.46707 Argentine Peso
1 Philippine Peso = 0.02507 Australian Dollar
1 Philippine Peso = 0.03386 Aruba Florin
1 Philippine Peso = 0.03804 Barbados Dollar
1 Philippine Peso = 1.58684 Bangladesh Taka
1 Philippine Peso = 0.03178 Bulgarian Lev
1 Philippine Peso = 0.00718 Bahraini Dinar
1 Philippine Peso = 33.30759 Burundi Franc
1 Philippine Peso = 0.01902 Bermuda Dollar
1 Philippine Peso = 0.02521 Brunei Dollar
1 Philippine Peso = 0.13049 Bolivian Boliviano
1 Philippine Peso = 0.06941 Brazilian Real
1 Philippine Peso = 0.01902 Bahamian Dollar
1 Philippine Peso = 1.2997 Bhutan Ngultrum
1 Philippine Peso = 0.18862 Botswana Pula
1 Philippine Peso = 380.82557 Belarus Ruble
1 Philippine Peso = 0.038 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01888 Swiss Franc
1 Philippine Peso = 11.92087 Chilean Peso
1 Philippine Peso = 0.1215 Chinese Yuan
1 Philippine Peso = 54.23245 Colombian Peso
1 Philippine Peso = 10.69241 Costa Rica Colon
1 Philippine Peso = 0.01902 Cuban Peso
1 Philippine Peso = 1.79018 Cape Verde Escudo
1 Philippine Peso = 0.41871 Czech Koruna
1 Philippine Peso = 3.37645 Djibouti Franc
1 Philippine Peso = 0.12092 Danish Krone
1 Philippine Peso = 0.9416 Dominican Peso
1 Philippine Peso = 2.20987 Algerian Dinar
1 Philippine Peso = 0.25394 Estonian Kroon
1 Philippine Peso = 0.33993 Egyptian Pound
1 Philippine Peso = 0.51779 Ethiopian Birr
1 Philippine Peso = 0.01623 Euro
1 Philippine Peso = 0.03907 Fiji Dollar
1 Philippine Peso = 0.01422 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08823 Ghanaian Cedi
1 Philippine Peso = 0.89024 Gambian Dalasi
1 Philippine Peso = 171.23835 Guinea Franc
1 Philippine Peso = 0.13955 Guatemala Quetzal
1 Philippine Peso = 3.93875 Guyana Dollar
1 Philippine Peso = 0.14924 Hong Kong Dollar
1 Philippine Peso = 0.45305 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.23264 Haiti Gourde
1 Philippine Peso = 5.18261 Hungarian Forint
1 Philippine Peso = 268.49914 Indonesian Rupiah
1 Philippine Peso = 0.06761 Israeli Shekel
1 Philippine Peso = 1.28921 Indian Rupee
1 Philippine Peso = 22.52235 Iraqi Dinar
1 Philippine Peso = 800.64676 Iran Rial
1 Philippine Peso = 2.00476 Iceland Krona
1 Philippine Peso = 2.38368 Jamaican Dollar
1 Philippine Peso = 0.01348 Jordanian Dinar
1 Philippine Peso = 2.08195 Japanese Yen
1 Philippine Peso = 1.91839 Kenyan Shilling
1 Philippine Peso = 1.2975 Kyrgyzstan Som
1 Philippine Peso = 77.23036 Cambodia Riel
1 Philippine Peso = 7.96595 Comoros Franc
1 Philippine Peso = 17.12003 North Korean Won
1 Philippine Peso = 20.46376 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.0156 Cayman Islands Dollar
1 Philippine Peso = 6.24805 Kazakhstan Tenge
1 Philippine Peso = 158.41735 Lao Kip
1 Philippine Peso = 28.6285 Lebanese Pound
1 Philippine Peso = 3.00552 Sri Lanka Rupee
1 Philippine Peso = 2.59102 Liberian Dollar
1 Philippine Peso = 0.23569 Lesotho Loti
1 Philippine Peso = 0.05799 Lithuanian Lita
1 Philippine Peso = 0.0118 Latvian Lat
1 Philippine Peso = 0.02586 Libyan Dinar
1 Philippine Peso = 0.18008 Moroccan Dirham
1 Philippine Peso = 0.31929 Moldovan Leu
1 Philippine Peso = 0.99391 Macedonian Denar
1 Philippine Peso = 25.77516 Myanmar Kyat
1 Philippine Peso = 45.76412 Mongolian Tugrik
1 Philippine Peso = 0.15373 Macau Pataca
1 Philippine Peso = 6.73388 Mauritania Ougulya
1 Philippine Peso = 0.65627 Mauritius Rupee
1 Philippine Peso = 0.29618 Maldives Rufiyaa
1 Philippine Peso = 13.63553 Malawi Kwacha
1 Philippine Peso = 0.37196 Mexican Peso
1 Philippine Peso = 0.07566 Malaysian Ringgit
1 Philippine Peso = 0.23683 Namibian Dollar
1 Philippine Peso = 6.82899 Nigerian Naira
1 Philippine Peso = 0.59717 Nicaragua Cordoba
1 Philippine Peso = 0.15404 Norwegian Krone
1 Philippine Peso = 2.06962 Nepalese Rupee
1 Philippine Peso = 0.02745 New Zealand Dollar
1 Philippine Peso = 0.00732 Omani Rial
1 Philippine Peso = 0.01902 Panama Balboa
1 Philippine Peso = 0.0621 Peruvian Nuevo Sol
1 Philippine Peso = 0.06201 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.19897 Pakistani Rupee
1 Philippine Peso = 0.06975 Polish Zloty
1 Philippine Peso = 108.10348 Paraguayan Guarani
1 Philippine Peso = 0.06924 Qatar Rial
1 Philippine Peso = 0.0751 Romanian New Leu
1 Philippine Peso = 1.17631 Russian Rouble
1 Philippine Peso = 16.13468 Rwanda Franc
1 Philippine Peso = 0.07134 Saudi Arabian Riyal
1 Philippine Peso = 0.15092 Solomon Islands Dollar
1 Philippine Peso = 0.25547 Seychelles Rupee
1 Philippine Peso = 0.34155 Sudanese Pound
1 Philippine Peso = 0.16566 Swedish Krona
1 Philippine Peso = 0.02546 Singapore Dollar
1 Philippine Peso = 0.01422 St Helena Pound
1 Philippine Peso = 0.42241 Slovak Koruna
1 Philippine Peso = 149.32471 Sierra Leone Leone
1 Philippine Peso = 10.69051 Somali Shilling
1 Philippine Peso = 397.78391 Sao Tome Dobra
1 Philippine Peso = 0.16644 El Salvador Colon
1 Philippine Peso = 9.79608 Syrian Pound
1 Philippine Peso = 0.23678 Swaziland Lilageni
1 Philippine Peso = 0.60662 Thai Baht
1 Philippine Peso = 0.0483 Tunisian Dinar
1 Philippine Peso = 0.04363 Tongan paʻanga
1 Philippine Peso = 0.08961 Turkish Lira
1 Philippine Peso = 0.1286 Trinidad Tobago Dollar
1 Philippine Peso = 0.56886 Taiwan Dollar
1 Philippine Peso = 43.27563 Tanzanian Shilling
1 Philippine Peso = 0.49705 Ukraine Hryvnia
1 Philippine Peso = 71.0291 Ugandan Shilling
1 Philippine Peso = 0.01902 United States Dollar
1 Philippine Peso = 0.5933 Uruguayan New Peso
1 Philippine Peso = 151.83565 Uzbekistan Sum
1 Philippine Peso = 1494.25528 Venezuelan Bolivar
1 Philippine Peso = 433.30797 Vietnam Dong
1 Philippine Peso = 2.03595 Vanuatu Vatu
1 Philippine Peso = 0.04914 Samoa Tala
1 Philippine Peso = 10.63667 CFA Franc (BEAC)
1 Philippine Peso = 0.05136 East Caribbean Dollar
1 Philippine Peso = 10.63667 CFA Franc (BCEAO)
1 Philippine Peso = 1.926 Pacific Franc
1 Philippine Peso = 4.75366 Yemen Riyal
1 Philippine Peso = 0.23681 South African Rand
1 Philippine Peso = 98.716 Zambian Kwacha
1 Philippine Peso = 6.88415 Zimbabwe dollar

Banks maintain no hacking involved

Bank of the Philippine Islands and Banco de Oro Unibank, two of the country’s biggest lenders, yesterday reiterated it was “human error” and skimming,  respectively, and not hacking, that caused disorder among accounts of their depositors.

Speaking before the Senate committee on banks, financial institutions and currencies, BPI president and CEO Cezar Consing said there was no breach of data privacy when the glitch was discovered and affected 1.5 million of their 8 million bank clients.

“Our investigation revealed that ours was a case of human error and not hacking. We also informed our regulators that there was no breach of data privacy,” Consing told senators at the onset of the Senate investigation.

On June 6, BPI officials reported an internal data processing error that resulted in unauthorized postings of deposits and withdrawals.

The internal glitch only affected automated teller machines, cash acceptance machines, and point of sale systems. BPI had to disable electronic transactions for two days.

“To fix the problem, we had to take down our electronic channels.  Basically these are services related to our ATM cards, internet banking, mobile banking. We took them down for a period of 26 hours spread over a period of 37 hours,” he said.

Ramon Jocson,  executive vice president  for enterprise services group of BPI who was also present in the hearing, said a female specialist had entered a wrong file in the system.

“Instead of May 26 to May 29, she entered April 27 to May 2 in our system. In effect, all transactions from April 27 to May 2were doubled,” he said.

Jocson said the programmer processed the transactions immediately before sending a request for approval from her supervisor.

“What she did was maybe because of expediency,” he said.

The bank executive did not identify the programmer but said she had been reassigned to another department while the fiasco is under investigation.

Senate Minority Leader Franklin Drilon asked if the June 7 glitch was a clear error of judgment on the part of the specialist, the bank official answered in the affirmative.

“I was a programmer once, I was young once…and this particular person has been (with us for three years). She topped her programming class so

there’s always the zeal to do things faster. So I attribute this, your honor, to a lapse in judgment,” Jocson said.

Jocson pointed out  “no money was lost” in the glitch.

When asked by panel chair Sen. Francis Escudero if BPI was 100 percent sure that its system was not hacked, Jocson said: “Your honor a hundred percent definite it was not a hack.”

Escudero called for a hearing after BDO issued a statement last Friday that its ATMs were potentially compromised, more than a week after the BPI incident.

The clients of BDO noted there were unauthorized withdrawals from their accounts.

According to the bank’s initial report to the Bangko Sentral ng Pilipinas (BSP), the incident was caused by a “localized skimming attack.”

Edwin Romualdo Reyes, BDO EVP and head of transaction banking group, said seven out of BDO’s 3,700 ATM machines reported three separate fraud events.

Jocson said the BPI, to prevent the skimming attack, has a cyber security operations center where circuit breakers were installed.

He said if the system detected “extra-volume transactions,” the automated process will stop for 10 minutes and would resume only if there is nothing irregular in the transactions.

To prevent such skimming, the BSP in 2014 instructed all financial institutions to equip issued cards—ATM, debit and credit cards—with EMV  (which stands for Europay, Mastercard and Visa) chips and has extended the deadline to June 30, 2018 from the original January 1 of this year.

Failure to do so will subject BSFIs to monetary sanctions provided under relevant provisions in the Manual of Regulations for Banks and Manual of Regulations for Non-Bank Financial Institutions . 

To raise awareness as well as manage customers’ expectations on the replacement of their payment cards, BSFIs should intensify their public awareness programs leveraging on all available communication channels. The information should clearly indicate the date when EMV cards are available and ready for pick-up by their clients as well as the related procedures for replacing magnetic strip cards and distributing EMV-compliant cards.

Industry estimates show that there are around 15 million Filipino ATM card holders and 6 million credit and debit card holders.

EMV is now a global standard for credit and debit payment cards based on chip card technology with issuance now totaling 1.55 billion worldwide.

These chip-based payment cards, also known as smart cards, contain an embedded microprocessor, a type of small computer. The microprocessor chip contains the information needed to use the card for payment, and is protected by various security features.

EMV chip-enabled cards are considered as a more secure alternative to traditional magnetic stripe payment cards.
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