HOUSE Committee on Ways and Means Chairman Joey Salceda asked the House to probe the reported incidents of “bank account hacking” or the loss of money of bank clients, including the protection measures provided by banks to their clients amid incidents of “online scams.”
The Bicol solon filed House Resolution 2406 that asks the House Committees on Public Accounts and Public Order and Safety to review thoroughly “in aid of legislation” the capacity of law enforcement agencies to effectively respond to and prevent “financial cybercrimes” and the effective implementation of anti-fraud provisions under the “Cybercrime Law.”
House Resolution 2407, meanwhile, asks the House Committee on Banks and Financial Intermediaries to look at possible measures to strengthen the “user protection mechanism” of the retail banking industry to provide security to bank customers against fraud and theft.
The solon pointed out that clients are at a disadvantage and will put in jeopardy their hard-earned money if banks will not provide ample protection.
The congressman added that this is a serious threat to “consumer confidence” among foreign or local clients and the financial system as a whole if this cannot be solved immediately.
As of now, even concerned agencies in the government have no anti-financial crime units, as compared to other counties.
Even online users are not provided with enough information to avoid being victimized.