Solon: Protect banks vs scams

January 23, 2022 Ryan Ponce Pacpaco 156 views

A HOUSE leader is looking to initiate a series of probes to help create better legislation to protect the public from bank scams, electronic or otherwise.

“With bank scams being a hot topic before 2021 ended, the extent and limits of a bank’s liability during scamming incidents must clearly be defined,” Deputy Speaker and Bagong Henerasyon (BH) Rep. Bernadette Herrera.

“Needless to say, this is by no means a witch-hunt, or a fault finding endeavor. Every stakeholder will surely bring valuable, if not actionable, insights to the dialogue,” Herrera added.

Herrera likewise mentioned that the alleged scam recently perpetrated by a now-dismissed RCBC branch manager will be a good test case to determine the exact parameters of institutional accountability.

To this end, the lawmaker has invited top officials from the bank to provide their guidance on the matter.

The Bangko Sentral ng Pilipinas (BSP) has already issued two resolutions clearing RCBC’s executives of any liability, but the case has been escalated to the Court of Appeals (CA).