Union Bank says alleged fraud by employee not related to cyber crime

July 2, 2017

Union Bank of the Philippines on Sunday clarified that an alleged fraud involving one of their employees in not related to cyber security or cyber crime. “UnionBank, during its routine checking, found out about possible fraud involving one of its employees. To mitigate the situation, the Bank has already handed the case to the proper authorities for a more thorough investigation,” the bank said in a statement. They said they also conducting a rigorous internal investigation to determine the extent of the incident. “Importantly, this incident is not involved in any way with cyber security or cyber crime,” they added. “UnionBank always follows the highest level of security, audit and transparency standards,” it added. Last Friday, police arrested UnionBank officer Mariebel Osorio for making unauthorized cash transaction amounting to P17, 029,900 million from the Pasig branch. (Ella Dionisio/DMS)