CIMB Bank Philippines has announced the resolution of the unauthorized fund transfer incident that occurred on the evening of April 26, 2025, assuring all affected customers that their funds have been fully returned.
The bank confirmed the development in a statement released on its official Facebook page, bringing relief to account holders who experienced the unsettling event.
The incident, which prompted a temporary system check and unavailability of services across the CIMB app and its partner applications, triggered concerns among users. However, the bank was quick to address the issue, conducting a thorough investigation into the unauthorized transfers.
In its statement, CIMB Philippines emphasized that its “core banking system and customer data remain secure and unauthorized,” aiming to allay fears of a broader security breach.
The bank expressed its regret for the inconvenience caused, stating, “We regret any inconvenience this incident may have caused and want you to know that we are taking all necessary steps to strengthen our systems further.”
BSP orders swift action, assures public of financial system stability
The Bangko Sentral ng Pilipinas (BSP) also swiftly responded to the situation.
In a statement, the central bank confirmed that it had instructed CIMB to “swiftly address the root cause of the unauthorized fund transfers that affected some of its customers.”
The BSP further stated that, based on the latest updates from CIMB, “the funds of all affected customers have been restored to their respective accounts.” The central monetary authority also highlighted that CIMB is currently undertaking a “thorough investigation to prevent recurrence of similar incidents.”
Reassuring the public, the BSP affirmed its “ongoing engagement with CIMB” and its readiness to “take the necessary supervisory actions in pursuit of its commitment to uphold the integrity, stability and resilience of the Philippine financial system.”
The BSP also advised the public to refer to official communications from both CIMB and the central bank for further updates on the matter.
The prompt action and transparent communication from both the bank and the BSP appear to have mitigated potential long-term damage to customer trust. The swift resolution and the assurance of data security are crucial in maintaining confidence in the digital banking landscape.
Full reimbursement offers relief as investigation gets underway
While the exact nature and scale of the unauthorized transfers have not been disclosed, the fact that all affected customers have had their funds returned provides a significant measure of reassurance.
The ongoing investigation by CIMB, coupled with the BSP’s oversight, signals a commitment to preventing similar incidents in the future.
This event serves as a reminder of the inherent risks associated with digital financial transactions and underscores the importance of robust security measures and swift response protocols within the banking industry.
As CIMB Philippines intensifies its efforts to fortify its systems, customers will undoubtedly be monitoring closely for forthcoming updates and reassurances concerning the security of their accounts.
In the end, recognizing that the collaborative approach adopted by both the bank and the BSP in tackling this incident is crucial for bolstering the stability and trustworthiness of the broader Philippine financial ecosystem.
About CIMB Bank
CIMB Bank Philippines Inc. is the tenth and final geographical milestone in establishing CIMB’s presence throughout ASEAN.
Opened in December 2018 and headquartered in Bonifacio Global City, Metro Manila, Philippines, the bank has transformed the Filipino banking experience with its all-digital, mobile-first bank, offering 24/7 safe and secure banking.
You can open a bank account in just 10 minutes through smartphones, and enjoy best-in-market interest rates for savings accounts, no transaction fees, no initial deposit or minimum balance requirements, and convenient deposit and withdrawal options at over 8,000+ partner locations and 20,000+ partner ATMs nationwide for free — all done through the CIMB Bank PH mobile app.
You can find the bank at:
CIMB Bank Philippines Inc., 22F Bonifacio Stopover Corporate Center, 31st Street, BGC, Taguig City, Philippines.
For any concerns or further assistance, customers can reach out through the bank’s official channels, including the Customer Care hotline at #2462 or the ‘Need Help?’ button on the CIMB Bank PH app.