EastWest Bank is being investigated by the government after one of its managers allegedly absconded with the deposits of two of the bank’s long-time clients.
The Bangko Sentral ng Pilipinas, which regulates the country’s banks, said in a statement that “it is looking into reported unauthorized transactions relayed by some of the country’s lawmakers and reported by [the] media.”
The announcement came after ACT-CIS party-list Rep. Nina Taduran said in a radio interview that two depositors have lost their money, an incident confirmed by the bank. However, EastWest did not mention the name of the bank manager who allegedly took the depositors’ money, the amount she took, nor the branch where she had worked.
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EastWest said that the missing amount was “not significant.”
“We have been in touch with the two affected depositors. They have been informed that an internal investigation is ongoing and that we will credit back to their account the amount taken,” the bank said.
“EastWest will always stand by its commitment to protect depositors’ and customers’ money. The issue is limited to one branch but nonetheless, we shall put in place additional system-wide safeguards to make sure this isolated incident does not happen again,” the company added.
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