The National Privacy Commission (NPC) has launched its own probe into the “Mark Nagoyo” scam to see if BDO failed to protect the money and personal data of its depositors.
In a statement, NPC Commissioner John Henry Naga said its Complaints and Investigation Division started the investigation into the case involving BDO and the Union Bank of the Philippines.
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Offhand, the NPC is zooming in on BDO’s antique web service as the culprit.
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“The NPC also looks into the relevance of BDO’s 10-year-old system to the alleged security incident and to determine whether sufficient technical, organizational, and physical safeguards were in place to prevent unauthorized disclosure of personal information that may have been contained in the system,” Naga said.
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The NPC called the scam as a “serious security incident,” and will check if the banks are liable for any violations of the Data Privacy Act (DPA).
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Representatives of BDO and UnionBank have been asked to appear in a clarificatory conference on January 4, 2022 — the commission’s first order of business.
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The post Were BDO, UnionBank’s safeguards enough? Privacy Commission probes ’Nagoyo’ scam first appeared on Bilyonaryo Business News.
Were BDO, UnionBank’s safeguards enough? Privacy Commission probes ’Nagoyo’ scam
Source: Filipino Daily Inquirer
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