Photo Release

January 17, 2022

Protecting public from financial fraud: A victim himself of digital fraud, Sen. Win Gatchalian on Monday, January 17, 2022, lauded the Senate Committee on Banks, Financial Institutions and Currencies for holding a virtual public hearing on proposals to protect the general public against fraud and financial crimes by strengthening and expanding the regulatory powers of the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission and the Insurance Commission. “It’s really about time we put a stronger financial protection for our financial consumers with the accelerated use of financial services and the use of electronic payments. We see that hackers and fraudsters have become more sophisticated and emboldened. It’s time we put this in place so that our promotion of financial digital payments would be more robust and consumer confidence will increase thereafter,” Gatchalian said. Gatchalian lost P1 million to hackers when they hacked his credit card last year. He thanked the National Bureau of Investigation for apprehending the perpetrators. (Screen grab/Senate PRIB)