Manila, Sept. 17 -- Internet watchdog Scam Watch Pilipinas (Scam Watch) has slammed the response of local bank BDO Unibank (BDO) on the viral case of unauthorized bank transactions for being "incomplete" and "unfair to depositors."

In a statement on Wednesday, Scam Watch co-founder Art Samaniego said BDO's response to a viral social media post "misses" the core issue, particularly in its emphasis on social engineering and familial fraud.

"It leaves unanswered the most crucial question depositors are asking -how were the bank's own security limits bypassed?" Samaniego said.

He said banks have daily withdrawal and transfer caps for each customer to act as "circuit breakers" in case of fraud.

"If PHP189,000 was withdrawn from an account ...