Gatchalian seeks parallel probe in Senate for credit, debit card hacking

ABS-CBN News

Posted at Jan 09 2021 11:08 PM

MANILA — Sen. Sherwin Gatchalian on Saturday sought a parallel Senate probe into reported cases of fraudulent online banking, and credit and debit card transactions, days after his credit card was used to order some P1 million worth of food. 

In a statement, Gatchalian said his office received a “barrage of complaints” through email and Facebook regarding “access device fraud” in recent months. 

He said his credit card hacker obtained the one-time passwords for the transactions after changing the mobile number registered in his Union Bank credit card.

“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. 

He added that 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. 

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“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 added, noting that online and cashless transactions have soared due to the pandemic. 

An investigation can also touch on 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 has already filed an incident report before the National Bureau of Investigation (NBI) regarding the incident.