Philippine bank chaos after unauthorised transactions

Espenilla said the BSP could use its huge pile of foreign exchange reserves to play a stabilising role in the market.

Manila (AFP) -A wave of unauthorised transactions has hit a major Philippine bank, triggering fears of hacking even as company officials said Wednesday it was an internal computer error.

Customers of Bank of the Philippine Islands (BPI) woke up Wednesday unable to access their accounts online with many shocked to see unauthorised withdrawals and deposits.