Home NEWS Senate to probe into bank card fraud — Gatchalian

Senate to probe into bank card fraud — Gatchalian

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(Philstar.com) – February 17, 2021 – 9:56am

MANILA, Philippines — Sen. Sherwin Gatchalian on Wednesday mentioned the higher chamber will launch an inquiry into bank card fraud and different unauthorized financial institution transactions.

An announcement launched by Gatchalian’s workplace mentioned the probe seeks to amend current legal guidelines with needed mechanisms to guard shoppers from nefarious people.

“Except for shopper safety, there are a selection of points that have to be addressed particularly on the side of cybersecurity — the challenges and finest practices,” Gatchalian, who’s vice chairman of the Senate committee on banks, mentioned.

“Banks are very engaging targets for hackers and scammers particularly throughout this time of the pandemic.”

Gatchalian mentioned the probe would additionally deal with the steps undertaken by the Bangko Sentral ng Pilipinas (BSP) in addition to different banks in safeguarding the pursuits of shoppers.

“Since we revealed the victimization of my bank card till now the inflow of complaints acquired by my workplace from the victims of unauthorized on-line financial institution fund transfers and bank card transactions has not stopped,” Gatchalian mentioned in Filipino.

“The poor victims have no idea the place to file their grievances. As well as, there’s a lack of a fast course of to handle their complaints instantly,” he added in Filipino.

On January 6, Gatchalian revealed that his bank card was hacked and used to order P1 million price of meals from Meals Panda.

“The hacker managed to alter my registered telephone quantity so he obtained the [one-time passwords]. He knew what he was doing. I simply do not know the way he’ll eat one million price of meals,” he mentioned on Twitter then.

The senator has since filed a criticism on the Nationwide Bureau of Investigation over the incident.

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