CEBU Fifth District Rep. Ramon “Red” Durano VI has proposed a bill that penalizes the use of an automated teller machine (ATM) skimming device as a form of economic sabotage and a heinous crime.
Durano filed on May 24 House Bill 5723, which seeks amendments to Republic Act 8484, otherwise known as “An Act Regulating the Issuance and Use of Access Devices, Prohibiting Fraudulent Acts Committed Relative Thereto, Providing Penalties, and For Other Purposes”.
Durano said the rampant clamor of the banking sector and the business sectors over the proliferation of cases involving bank fraud particularly ATM fraud has greatly affected the integrity of the banking and business sector in the country.
“The advances in information technology on access devices have been taken advantage of by criminals and criminal syndicates in perpetuating fraudulent activities that are inimical to the country’s financial sector and undermine the public’s trust toward the banking industry,” Durano said.
Among the amendments Durano proposed is the State shall declare commission of a crime using access devices as a form of economic sabotage and a heinous crime with penalties to be imposed up the maximum level allowed by law.
“The clamor to protect the people from all forms of banking fraud, if left unheeded, could have a serious implication on the country’s booming economy,” Durano said.
The penalties proposed include imprisonment for not less than six years and not more than 20 years, and a fine of not less than P300,000 and not more than P1 million depending on the aggregate amount of all affected or exposed bank account and the number of counterfeit access devices and or unauthorized access devices in possession.
The penalty of life imprisonment and a fine of not less than P1 million and not more than P5 million shall be imposed if the offense constitutes economic sabotage as defined by the law.
The crimes considered as an offense involving economic sabotage if any of the prohibited acts involve hacking of a bank system, and if the skimming affected 50 or more ATM cards.
Aliens, nonresident Filipinos or Filipino offenders who have the capacity to abscond or had attempted to abscond shall not be allowed to post bail.