Online crimes and threats were prevalent during the earlier days of the community quarantine but these were sufficiently addressed by local banks and other financial institutions, the Bangko Sentral ng Pilipinas (BSP) said.
On top of stiffer penalties, the bill's scope was also expanded to include ATM fraud through skimming, hacking of the banking system, counterfeiting of credit or debit card.
A city legislator has urged all local banks to allow persons with disabilities (PWD) to open an account after it was reported that a group of visually-impaired persons were unable to remit their government contributions through a small lender.
The I-Tech program also allows inventors to borrow up to 85 percent of the total loan amount or a maximum of P12.5 million, or what the borrower's repayment capacity is, whichever is lower.
A Caloocan-headquartered Filipino savings bank has been considered as a finalist in two categories in the DatacenterDynamics APAC Awards, the B2B information provider said on its website.
