“BHI has sufficiently addressed the financial impact of the matter and undertaken a thorough review of its anti-fraud rules and policies to prevent similar incidents in the future,” the company said in a statement.
BHI earlier sued and fired Odessa Lora D. Bodanio, for allegedly taking P98 million from the company’s bank account without authorization.
The case, now with the Makati Regional Trial Court, advanced after Bodanio failed to respond, leading to a default ruling against her.
‘Bad faith actor’
BHI defended its internal controls, noting it “had long implemented robust and industry-standard systems to guard against financial crimes”.
“But no matter how perfect these protocols are, these fall through the reprobate acts of a determined bad faith actor who has no qualms in betraying the office of high trust and confidence,” the company had said.
Owner reimburses firm for lost funds
After the theft was discovered, BHI was promptly reimbursed for the stated amount by Jose Marcel Panlilio, its president and CEO.
“Exploiting the trust and confidence reposed upon her by management and taking advantage of her position and moral ascendancy over her subordinates, the erstwhile finance officer bypassed company protocols in effecting the fraudulent transfers,” Boulevard said.
