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Unionbank confirms 'possible fraud' after P17-M theft arrest

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ABS-CBN News

MANILA - Unionbank of the Philippines said Sunday authorities were investigating a &quot;possible fraud incident&quot; involving one of its employees.The lender issued the statement after police arrested a female employee in its Ortigas branch who was accused of stealing P17 million through <a href="http://news.abs-cbn.com/news/07/01/17/empleyadong-nagnakaw-ng-p17-m-mula-sa-bangko-arestado" target="_blank">unauthorized cash transfers</a>. Unionbank did not disclose the amount involved and did not identify the employee in its statement on Sunday.&quot;To mitigate the situation, the bank has already handed the case to the proper authorities for a more thorough investigation,&quot; the lender said. &quot;Along with this, the bank is also conducting a rigorous internal probe to know the extent of the issue. Importantly, this incident (is) not in any way involved with cyber-security or cyber-crime,&quot; it said. The alleged fraud at Unionbank came as the banking industry came under scrutiny following a 2-day outage at Bank of the Philippine Islands and ATM-based theft at BDO Unibank.

Unionbank of the Philippines said Sunday authorities were investigating a "possible fraud incident" involving one of its employees.

Unionbank of the Philippines said Sunday authorities were investigating a "possible fraud incident" involving one of its employees.