MANILA, Philippines—Sen. Grace Poe urged the Bangko Sentral ng Pilipinas (BSP) to champion consumer rights and use its clout with banks to ensure fraud victims get their money back.
In a statement on Tuesday, Poe said, “financial regulators are keen on throwing banks a line when they are deemed to be too big to fail. Equally, individuals deserve proper and timely support. People should be at the core of what [the] government does and no one should be too small to ignore.”
According to the BSP, people were still afraid to conduct online transactions out of fear of being scammed or hacked, which they attributed to a lack of awareness.
Meanwhile, victims of online bank fraud have…
Keep on reading: Poe to BSP: Help fraud victims get their money back