Tougher law needed against bank card skimming – solon

If Eastern Samar lone district Rep. Ben Evardone would have his way, bank card “skimming” would become a more serious crime with a more serious punishment.

Evardone, chairman of the House Committee on Banks and Financial Intermediaries, revealed yesterday that his panel is preparing a bill that seeks to classify automated teller machine (ATM) card skimming as economic sabotage, which is punishable by life imprisonment.

Skimming is a type of fraud in which an ATM or bank card is compromised by a skimming device, a card reader which can be disguised to look like a part of the machine.

The card reader saves the users’ card number and pin code, which is then replicated into a counterfeit copy. This facilitates the stealing of money.

In an interview with SuperRadyo DZBB, Evardone said a tougher law is needed to address ATM skimming, which based on current laws equates to mere theft.

The House leader said a lot of banks have complained over the fact that some of the suspects were let go after posting bail amounting to just R15,000 to R20,000.

He said there are times when millions and millions are stolen. But the bail is just R15,000 or R20,000 so it comes as no surprise if the suspect in such as case is caught and then released the next day.

For Evardone, that ATM skimming undermines the economy, thus making it is a clear case of economic sabotage wherein the accused cannot post bail during the trial, unless the evidence against him or her is weak.

Since many suspects of ATM skimming are foreigners, Evardone said the proposed law will push for the extradition of foreign nationals who may be found involved in the fraud