BDO: Liability clause is regular compliance in the banking industry
Reportedly, BDO changed its terms and conditions after the recent online hacking incident and netizens are not happy about it. So, the company issued a statement earlier.
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| Statement from BDO |
BDO releases a statement over the alleged change in its terms and conditions
To recap, BDO allegedly changed its terms in conditions to "shall not be liable for any loss or damage" sustained by clients who use BDO’s online banking services from hacking or any other security breaches "with or without your participation."
In response, BDO said that they have not added any clauses to its terms and conditions due to the recent incident.
Liability clause is a regular compliance in the banking industry. This has been part of the normal compliance for a long time. There was no added clause due to the recent incident. BDO made exceptions and shouldered the losses not caused by the clients to maintain good customer relationship even if the Bank is not legally liable.
On GMA Network's page, one commenter notes,
Money was deposited to the bank which they lend out for a profit (interest) then it should be their full responsibility to ensure its safety.
Another one said,
How come bank is not liable sa recent theft? IT security lapse un. Alangan naman depositor ang may kasalanan dun. Kung ako sa inyo, alisin nyo n lng ung membership fee sa credit card para masaya tayong lahat.
What do you guys think?
Source: GMA
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