CIMB begins reversal of unauthorized fund transfers

Metro Manila, Philippines - Digital lender CIMB Bank Philippines on Sunday, April 27, said it has started to reverse the unauthorized fund transfers that recently hit some of its customers.

In a statement, CIMB said the reversal process has yet to be completed but affected users can now check their accounts for an update on their funds.

“We apologize for any inconvenience this has caused. Rest assured that your security continues to be of utmost importance to us,” the advisory read.

The lender previously announced that it was conducting a probe on unsolicited withdrawals which affected “a few customers.”

However, the digital bank did not elaborate as to the reason for the unauthorized transfers.

Meanwhile, the Bangko Sentral ng Pilipinas also said it is closely coordinating with CIMB regarding the transactions and assured that it will monitor the situation until it is fully resolved.

CIMB, a partner app of GCash, reported ₱100 billion in loan disbursements and ₱800 billion in transactions in 2024.