Case closed: UnionBank resolves glitch involving BancNet transactions

Clients of the Union Bank of the Philippines can now use automated teller machines (ATMs) without any hitches after the bank resolved a tech issue involving BancNet.

The Aboitiz-led lender responded to netizen reports that their bank accounts have been double debited for transactions, while withdrawals were deducted from account balances even if ATMs did not release cash.

“We encountered an intermittent connectivity issue between UBP and BancNet that affected the ATM withdrawals. All those affected have been credited within 24 hours,” the bank said in a statement.

“The issue has likewise been resolved and our ATM operations are back to normal,” it added.

Some customers, however, said their pending refunds have not been debited days after the wrong deductions.

US sanctions crypto ‘laundering’ service Tornado

The United States placed sanctions Monday on Tornado Cash, a leading “crypto mixer” for transactions in virtual currency that US officials describe as a hub for laundering stolen funds, including by North Korean hackers.

US sanctions crypto ‘laundering’ service Tornado

The United States placed sanctions Monday on Tornado Cash, a leading “crypto mixer” for transactions in virtual currency that US officials describe as a hub for laundering stolen funds, including by North Korean hackers.

US sanctions crypto ‘laundering’ service Tornado

The United States placed sanctions Monday on Tornado Cash, a leading “crypto mixer” for transactions in virtual currency that US officials describe as a hub for laundering stolen funds, including by North Korean hackers.