SENATOR Sherwin Gatchalian has filed a resolution to investigate Internet hacking and the integrity of the country’s online banking system after falling victim to a still unidentified ‘hacker’ who cleaned his credit card of some P1 million in online purchases in a space of a few hours last week.
In a ‘Twitter’ post last Wednesday, January 6, 2021, the lawmaker said he was shocked to learn that his credit card was used by the unknown suspect or suspects, for the online purchase of an assortment of food and liquors the day previously.
Gatchalian said he was not immediately able to respond to the messages send to him by his bank regarding the transactions, including the change in the phone number he is using to use his credit card since he was presiding a hearing of the Committee on Energy, which he also chairs.
After making public the incident, Gatchalian further said that his office was swamped with calls and messages informing that they too fell victims to hacking.
“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,” Gatchalian said.
While there are laws already in place ensuring the consumers’ protection such as the Access Devices Regulation Act, as amended, Electronic Commerce Act, Cybercrime Prevention Act, Consumer Act of the Philippines, and the Data Privacy Act, Gatchalian, also the vice chair of the Senate Committee on Banks now believes the security features of the country’s online banking system are now enough.
“(The safeguards) are not enough against unscrupulous individuals or groups engaged in phishing and hacking activities and using personal information of another person without authority,” the solon said.
With the emergence of new application software and innovations involving online and cashless transactions which surged following the COVID-19 outbreak, Gatchalian said there might be some aspects in the transactions that are not bound by these laws.
“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.
“As they upgrade their services, they should expect those who will try to gain unauthorized access to be more sophisticated as well.
“They should (also) provide a proper mechanism that will address the grievances of their customers,” Gatchalian added.