Cyber-criminals who defraud and steal money from bank customers will be arrested, prosecuted and jailed. Thus declared the Bankers Association of the Philippines through its president Arnulfo Veloso as he announced the imminent signing of a memorandum of agreement with the Department of Justice . He said, “We are going to find you and we are going to lock you up. You will pay for your crimes.”
A money mule is “someone who transfers or moves illegally acquired money on behalf of someone else,” and criminals employ money mules to help launder proceeds derived from online scams, as well as more serious crimes like human trafficking and drug trafficking. Phishing is “the fraudulent practice of sending emails purporting to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.
Aside from focusing on citizen awareness, the BAP-DOJ program will also upgrade the capability of law enforcers and prosecutors. Most basically, there are gaping holes in properly identifying the victims and the apparent perpetrators. Hence, the choke points in criminal prosecution will be cleared. Citizens will be taught and assisted in filing police reports that could be processed expeditiously.
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