MANILA – Sen. Sherwin Gatchalian has sought for a parallel Senate investigation into the numerous reported cases of fraudulent online banking and credit and debit card transactions.
Gatchalian said his office received a “barrage of complaints” through email and Facebook regarding “access device fraud” just days after “someone used his credit card to order some P1 million worth of food.”
The senator added the hacker was able to access his card after changing his registered mobile number and obtain a one-time password (OTP).
He said four transactions worth P300,851, P356,517, P323,247, and P96,265 were made in just an hour through food delivery app foodpanda last Jan.5.
“Despite all the legal mechanisms in place, obviously there’s something amiss which could probably explain the reason why these crooks thrive in this kind of a scheme,” said Gatchalian.
“Laws ensuring consumer protection might not be enough against people or groups engaged in phishing and hacking who are unauthorized to use an individual’s information,” he added.
“It’s incumbent upon these banks and companies offering convenient electronic transactions to also guarantee the security and protection of their clients’ accounts and personal information,” he further said.
According to Gatchalian, the planned Senate investigation can also tackle new software applications and innovations with the rise of online transactions, and whether these were covered by the country’s laws and regulations.
“As they upgrade their services, they should expect those who will try to gain unauthorized access to be more sophisticated as well,” Gatchalian said.
Last week, Gatchalian appeared before the NBI to formally file a report on the incident./PN
