Current Events Tidbits Et Al

[Julianda]

I'm not sure about the legitimacy of this article though but I guess this is something to ponder on.

 

Truth Revealed! Basahin kung paano nakapasok ang Maute Group sa Marawi at paano ito nabuo.

 

 

[camiar]

The BPI "processing glitch" seems to be more like a cyber attack.

 

Why wouldn't they admit it as cyber hacking if it really is the case?

[rooster69ph]

The BPI "processing glitch" seems to be more like a cyber attack.

 

Why wouldn't they admit it as cyber hacking if it really is the case?

Maybe it's really not... But if you insist then Prove it

[camiar]

Maybe it's really not... But if you insist then Prove it

Trolling for a fight?

 

Am I insisting? I was just asking.The tell tale signs of cyber hacking are there. But proving it to you would be like explaining the process of isentropic expansion of superheated steam to a three year old.

 

Actually I find nothing wrong about admitting it if it's really cyber hacking. It is part of cyber security problems we have to live with nowadays.

[rooster69ph]

Trolling for a fight?

 

Am I insisting? I was just asking.The tell tale signs of cyber hacking are there. But proving it to you would be like explaining the process of isentropic expansion of superheated steam to a three year old.

 

Actually I find nothing wrong about admitting it if it's really cyber hacking. It is part of cyber security problems we have to live with nowadays.

Nope not interested to fight...but to clarify as well as make a point.

 

I see .. just asking

 

And what do you think of this " deja vu?" post Isn't it asking as well. But you seconded the call to prove it?

 

Trying to make it sound complicated huh...just to get away from explaning/proving it?

 

As i've said malay mo nanan di talaga na hack so ano ang aaminin.

 

Thanks..that's all

[camiar]

No, I'm not trying to make it sound complicated. It is complicated.

 

As I said the tell tale signs are there. I was just wondering why BPI chose the denial path.

Edited June 9, 2017 by camiar

[FleurDeLune]

No, I'm not trying to make it sound complicated. It is complicated.

 

As I said the tell tale signs are there. I was just wondering why BPI chose the denial path.

 

Obviously, to protect their business.

[camiar]

 

Obviously, to protect their business.

 

If it were an internal system glitch, BPI clients who suffered can claim damages from the bank for the mismanagement of their system.

 

If it were a cyber attack, they have a reason to claim force majeur.

[rooster69ph]

If it was really hacked do you want to tell the public and cause fear/panic? What if a bankrun ensued...would that be good for bpi and the banking industry as a whole?

[rooster69ph]

No, I'm not trying to make it sound complicated. It is complicated.

 

As I said the tell tale signs are there. I was just wondering why BPI chose the denial path.

Still that is speculating unless one can prove it to refute the official advisory from the bank.

[camiar]

Still that is speculating unless one can prove it to refute the official advisory from the bank.

 

Yes, of course! The bank is secure. Nothing to worry about. You may bury your head in the sand and pretend everything is hunkydory.

 

But for myself, I will transfer some of my money from BPI to my other accounts. I'm spreading the risk just in case. I'll also keep enough cash at home to tide me over for a least a week just in case suddenly I can't use my ATM cards.

[rooster69ph]

Yes, of course! The bank is secure. Nothing to worry about. You may bury your head in the sand and pretend everything is hunkydory.

 

But for myself, I will transfer some of my money from BPI to my other accounts. I'm spreading the risk just in case. I'll also keep enough cash at home to tide me over for a least a week just in case suddenly I can't use my ATM cards.

Huh? What "the bank is secure" s@%t are you talking about? Did anyone say that?

 

In terms of risk perspective even if this didn't happen your money is never fully secured with any banks because of various risk factors like systems risk and the primary of which imho is credit risk. Kaya nga nandiyan ang pdic kung saan it guarantees your money with the bank up to a certain limit for deposits.

 

Also for the financially well educated person, he knows that one needs to spread his risk by not putting all his egg in one basket. Now it all depends with your risk appetite/comfort level on how much you intend to place with each bank and the type of asset class as well.

 

Well your action is the main reason why even if your speculation is true banks will have second thoughts about disclosing the real thing to the public. Do you think they would be happy to admit it at the risk massive pullouts by bank clients? Would they want to risk a bankrun happening?

 

As i said you can speculate and insist that this was a real hacking incident, that is your prerogative but the real question is are you able to prove it???

 

At the end of the day there is nothing is wrong with what you intend to do and you should have done that even if this incident didn't happened. In fact bakit di mo pa i-pull out ang lahat ng pera mo at magiiwan ka pa kung hindi ka kumportable sa kanila dahil sa nangyaring insidente?

[camiar]

Huh? What "the bank is secure" s@%t are you talking about? Did anyone say that?

 

In terms of risk perspective even if this didn't happen your money is never fully secured with any banks because of various risk factors like systems risk and the primary of which imho is credit risk. Kaya nga nandiyan ang pdic kung saan it guarantees your money with the bank up to a certain limit for deposits.

 

Also for the financially well educated person, he knows that one needs to spread his risk by not putting all his egg in one basket. Now it all depends with your risk appetite/comfort level on how much you intend to place with each bank and the type of asset class as well.

 

Well your action is the main reason why even if your speculation is true banks will have second thoughts about disclosing the real thing to the public. Do you think they would be happy to admit it at the risk massive pullouts by bank clients? Would they want to risk a bankrun happening?

 

As i said you can speculate and insist that this was a real hacking incident, that is your prerogative but the real question is are you able to prove it???

 

At the end of the day there is nothing is wrong with what you intend to do and you should have done that even if this incident didn't happened. In fact bakit di mo pa i-pull out ang lahat ng pera mo at magiiwan ka pa kung hindi ka kumportable sa kanila dahil sa nangyaring insidente?

You can't even tell sarcasm when you read one.

 

PDIC? For PhP500 K maximum coverage? Feeling secure ka na dun? Ahhh, OK.... I understand.

 

All banks are at risk. What I wanted to know is how prepared are they to handle cyber attacks, or even a major disaster like an Intensity 9 earthquake from the Marikina Valley Fault.

 

BPI seems to have shown that they can recover from an attack within 48 hours. That's fine. I'm sure they'll do better next time.

 

But instead of denying that there was an attack, I would feel more secure if they admitted it and explained how resilient their cyber security system and how effective their disaster recovery plans are.

[rooster69ph]

 

But instead of denying that there was an attack, I would feel more secure if they admitted it and explained how resilient their cyber security system and how effective their disaster recovery plans are.

Bottomline can you prove ba na this was an attack? Well maybe your expertise makes you know better than the ordinary Juan.

 

But if you are merely speculating ... Well i think it's also fair to give the bank the benefit of the doubt.

 

For the meantime you can do whatever you want on your deposit with them. Sabi ko nga why not just pull everything out. I'm pretty sure that bank would not want that to happen but honestly it won't really matter to them losing a few insubstantial business.

[haroots2]

You can't even tell sarcasm when you read one.

 

PDIC? For PhP500 K maximum coverage? Feeling secure ka na dun? Ahhh, OK.... I understand.

 

All banks are at risk. What I wanted to know is how prepared are they to handle cyber attacks, or even a major disaster like an Intensity 9 earthquake from the Marikina Valley Fault.

 

BPI seems to have shown that they can recover from an attack within 48 hours. That's fine. I'm sure they'll do better next time.

 

But instead of denying that there was an attack, I would feel more secure if they admitted it and explained how resilient their cyber security system and how effective their disaster recovery plans are.

 

Cyber attack is easier if you are part of the I.T. team before. Alam mo yung mga security measures na ginawa. If there is one I don't think they would say it in public because it will only cause panic to other depositors. May kakalat pang balita pa na ISIS ang gumawa niyan. I know BPI is one of the banks na invested sa I.T, systems including DR. BDO and EastWest mas mahina alam ko.

I don't think na nagkaroon ng bug yung system kasi magkakamali lang yan kung may major update pero wala naman sinabing ganun. Plus an update should be done and tested sa Dev and QAS servers nila before transferring it to the live server kaya malabo mangyari yung bug.