Villafuerte urges fellow solons to act swiftly on bill regulating bank accounts, e-wallets

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Villafuerte said the incidence of cybercrime has risen with the rapid shift in the way people live, especially in using the internet to interact both socially and economically.

Camarines Sur Rep. LRay Villafuerte is calling on his fellow lawmakers to act swiftly on the measure he partly proposed, which aims to add more teeth to the efforts of regulatory agencies to combat cybercrimes by penalizing social engineering schemes or “phishing.”, which includes his House Bill No.

“The recent gains in the digitalization of financial services should not result [in] adverse consequences for our people, especially during this prolonged pandemic,” he added. The committee is now preparing a report for the panel’s immediate final approval and for endorsement of the proposal to the plenary.

 

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