Senate OKs bill seeking to impose life imprisonment on bank hackers and ATM skimmers

Senate OKs bill seeking to impose life imprisonment on bank hackers and ATM skimmers

- The Senate approved a bill that aims to punish those who hack bank systems and skim ATMs

- The bill deems exploiting bank cards as a form of economic sabotage

- Minimum punishment would be four to six years of imprisonment

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The Senate has approved a bill seeking to punish bank hackers and ATM skimmers with life imprisonment.

KAMI learned that the Senate adopted the House Bill 6710 or the Access Devices Regulation Act of 1998. With 20-0 votes, the bill has to go through a bicameral conference before it can be sent straight to the Office of the President.

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In a report by the CNN Philippines, the measure pushes to punish those guilty of bank hacking and skimming of credit and debit cards. The bill also deems exploiting bank cards as a form of economic sabotage which is also considered as a heinous crime.

The minimum sanction would be twice the illegally-obtained amount of identity theft and four to six years of imprisonment.

For those who own at least 10 skimming devices and was able to access at least one bank account through fraud, the sentence could extend up to 20 years of jail time and a fine of at least P500,000.

In addition, those who are found guilty of hacking into bank systems or skimming at least 50 bank accounts would face life imprisonment and a fine of at least P1 million to P6 million.

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Source: Kami.com.ph

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