Bills seek tougher rules vs scammers
SB 2039 expands the punishable acts to include those who engage other persons to act as ‘money mules’
Daily TribuneSB 2039 expands the punishable acts to include those who engage other persons to act as ‘money mules’
Consumers will be better shielded from Internet fraud under two pending bills that seek to add teeth to agencies implementing laws on cybercrime and imposing imprisonment of individuals acting as cyber "mules."
Lawmakers recently filed House Bill 7393 or the Anti-Financial Scamming Act, and the counterpart Senate Bill 2039 or the Anti-Mule and Financial Fraud Act of 2023.
The first measure penalizes person acting as a money mule or performs social engineering schemes, considered as a form of economic sabotage when carried out by a group of three or more persons.
On the other hand, SB 2039 expands the punishable acts to include those who engage other persons to act as "money mules."
Likewise, phishing and account takeover are part of the prohibited acts.
In both proposed bills, money mules include those who sell, buy or lend e-wallets or other financial accounts, as well as those who register e-wallets or other financial accounts using a fictitious name or stolen identity to perpetrate a crime.
In a press statement on Monday, PLDT and Smart Communications president and CEO Alfredo Panlilio committed to support the legislation.
State must offer protection
"PLDT and Smart will support any form of timely and relevant legislation that protects our customers. For us, consumer protection is a significant part of our overall customer experience," Panlilio said.
"Since every Internet user is vulnerable to attacks that target our identity and our finances, protection by the State is equally vital to getting more Filipinos to maximize the opportunities that the Internet can offer," he added.
Based on figures provided by the Cybercrime Investigation and Coordinating Center, online fraud incidents in Metro Manila alone rose from 1,551 in the first half of 2022 to 4,446 in the first half of 2023, representing an increase of 186 percent. A report from the Presidential Anti-Organized Crime Commission, based on the digital forensic investigation of the SIMs confiscated in raids against scammers, unscrupulous individuals have been selling their registered pre-paid SIMs with verified e-wallet accounts for use in various cybercrime operations.
