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Financial regulators to have more powers vs. cyber threats: solon - Vimarsana News

Financial regulators to have more powers vs. cyber threats: solon

(File photo) MANILA - A measure granting the government more power to combat phishing and other online scams is awaiting President Rodrigo Duterte's signature as the country sees an alarming rise in cyber threats, a lawmaker said Saturday. Camarines Sur Rep. Luis Raymund Villafuerte said the expected signing into law of a bill enhancing financial consumer protection "couldn't have come at a more appropriate time than now" when the Philippines placed fourth in Kaspersky's 2021 global ranking of countries most targeted by web threats. He said the measure aims to empower the...

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Camarines SurLuis Raymund VillafuerteBenjamin DioknoRodrigo DuterteBangko SentralDepartment Of JusticeTeachers Dignity CoalitionPresident Rodrigo DutertePresident DuterteFinancial Consumer ActIle Photo Manilaa Measure Granting The Government More Power To Combat Phishing And Other Online Scams Is Awaiting President Rodrigo Duterte 39s Signature As Country Sees An Alarming Rise In Cyber ThreatsA Lawmaker Said Saturday Camarines Sur Rep Luis Raymund Villafuerte The Expected Signing Into Law Ofa Bill Enhancing Financial Consumer Protection Quot Couldn 39t Have Come Ata More Appropriate Time Than Now When Philippines Placed Fourth In Kaspersky 39s 2021 Global Ranking Of Countries Most Targeted By Web Threats He Measure Aims To Empower Bangko Sentral Ng Pilipinas Bsp And Rest Banking Community Better Protect Consumers Against PhishingUot Money Muling Quot Acting On Behalf Of Someone To Transfer Or Move Illegally Acquired Nd Other Online Scams They Shall Be Granted Such Powers As RulemakingUrveillance And InspectionMarket MonitoringNd Enforcement Powers Relative To Consumer Protection Quot We Are Hopeful That President Duterte Will Sign This Measure Into Law As It Aims Regulate The Use Of Bank Accounts And Electronic Wallets Consider Certain Illegal Financial Acts Related Their Asa Form Economic Sabotage Anda Heinous Crime If Done Ona Large ScaleUot Villafuerte Said He Noted That The Pandemic Has Presented New Opportunities For Quot Cybercriminal ExploitationNcluding Remote WorkVirtual CrimeNd Persistent ThreatsUot Especially As Social Distancing Protocols Have Increased Online Transactions To Avoid Face Interactions Although Banks Their Efforts In Addressing CybercrimesNd Consumers Have Also Become Increasingly Vigilant Against Such OffensesHe Philippines Still Has No Law Against The Use Of Financial Accounts As An Accessory To CrimesIllafuerte Said Quot Worse