HB06710: Enacted into law "RA11449" on Aug. 28, 2019 | AN ACT PROVIDING FOR ADDITIONAL PROHIBITIONS TO AND INCREASING PENALTIES FOR VIOLATIONS OF REPUBLIC ACT NO. 8484, OTHERWISE KNOWN AS THE "ACCESS DEVICES REGULATION ACT OF 1998"
This bill strengthens the regulations on access devices and increases the penalties for related offenses. It aims to combat fraudulent activities and protect the public's trust in the banking industry. The bill expands the definition of "counterfeit access device" and introduces new offenses, including skimming, copying, or counterfeiting credit or debit cards. It also introduces new penalties for offenses involving the possession of skimming devices and unauthorized access to online banking accounts or credit card accounts.
The bill's increased penalties and new offenses are intended to curb the growing problem of access device fraud and protect the public from economic harm. By enhancing the "Access Devices Regulation Act of 1998," this bill strengthens the legal framework for combating financial crimes in the digital age.