The Senate on Wednesday, January 25 referred the controversial Maharlika Investment Fund (MIF) bill to the Senate Committee on Banks chaired by Sen. Mark Villar. This was after majority of the members of the Senate unanimously voted down a motion to refer the controversial MIF bill to the Senate...
Local banks are in the sights of global fintech platforms provider, Intellect Design Arena, which targets the Philippines as a lucrative "strategic market". Over the short term, in just in a couple of years, the company expects to haul in $10 million revenues per annum, around P546 million, from...
Digital technology firm boosts security features By BERNIE CAHILES-MAGKILAT Ant Group Digital Technologies, a technology unit of Ant Group, recently introduced a number of new features in its cutting-edge digital solutions to boost security features of its digital solutions for the international...
Editorial In support of the Philippine government commitment to the global climate summit last year, the Bangko Sentral ng Pilipinas last week released Annex A to the Sustainable Finance Framework that was issued in April 2020 embodying the guiding principles. Among the incentives being considered...
The Senate unanimously approved on third and final reading the bill seeking to amend certain sections of the Philippine Deposit Insurance Corp. (PDIC) Charter, and make it an attached agency of the Bangko Sentral ng Pilipinas (BSP). Voting 23-0-0, the Senate passed during its hybrid plenary session...
Senator Grace Poe on Tuesday called on banks and other financial institutions to toughen its stance against cybercrime especially at a time more people are turning to digital transactions. Poe, who chairs the Senate Committee on Banks, Financial Institutions and Currencies, made the appeal...
Two bills proposing to further strengthen the country’s banking system have passed final reading approval in the House of Representatives. Speaker Lord Allan Velasco3 Speaker Lord Allan Velasco lauded his Lower House colleagues for approving on third and final reading the bills regulating...
The National Bureau of Investigation (NBI) will pursue the filing of criminal cases against the brains behind the series of bank hacking incident that were reported in December 2021, an official of the Bangko Sentral ng Pilipinas (BSP) said on Monday. Melchor Plabasan, head of the BSP’s...
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." Villafuerte said the...
Senator Sherwin Gatchalian is now seeking a in-depth Senate probe into the online bank hacking incident and the spate of spam text messages that occurred late last year. Gatchalian, in filing Senate Resolution No. 961, said it is imperative that the Senate investigates the proliferation of...
Re-electionist Senator Richard Gordon on Monday called on banks to enforce tighter online security to prevent hackers from stealing from clients’ accounts. Gordon, who chairs the Senate Committee on Justice and Human Rights, said banks should be more proactive in keeping their customers’ trust...
Senator Sherwin Gatchalin on Tuesday urged the banking industry to invest more on modern security banking solutions to induce confidence among financial consumers. Rather than telling the public how to avoid being a victim of cybercriminals, Gatchalian said banks should prioritize the protection of...
