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Security Bank targets growth in credit card billings, cards in force this year

BW FILE PHOTO

SECURITY BANK Corp. expects its credit card billings and cards in force to continue growing this year, an official said.

“Our target this year for billings is almost double. For cards in force, our target is close to 700,000 coming from 507,000 [last year],” Security Bank First Vice-President and Unsecured Lending Head Christian Eugene S. Quiros told reporters on Monday.

“Right now, I think the credit card industry has gone out of the pandemic stage. That’s why even the other banks are not saying they are growing. It’s just that we’re growing faster than them,” he added.

At end-2023, Security Bank’s cards in force grew by 30% year on year, while its billings rose by almost 50% to around P76 billion from P50 billion in 2022, Mr. Quiros said. New approvals also increased by 45%.

Growth this year will be boosted by Security Bank’s plan to launch an online cards platform in the coming months to allow cardholders to redeem rewards easily, he said.

“Once we launch this platform, it will enable them to choose from thousands of partner merchants. So, they can convert it to miles, vouchers, cash, or credit on their own,” he said.

Meanwhile, Security Bank on Monday launched the Wave Mastercard, which has no annual fee and offers 1% cashback on all online purchases.

“For us to really grow the cards in force, we revisited the customer value proposition of the cards. That’s why we came up with this decision to launch a no frills card,” Mr. Quiros said.

“Last January, we approved new cards close to 20,000, but of course we have to consider attrition. If some would go bad and if cards get delinquent, they might not be able to use them anymore. So, we target to at least approve or process 8,000 Wave Mastercards this year. Next year, it will incrementally increase,” he added.

The Wave Mastercard is made of 100% recycled PVC, making it the bank’s first credit card made of fully recycled material.

“So far, we did some pencil pushing in terms of profitability because it’s more expensive than the usual plastic, but what’s important is we’re able to help the environment. Our direction is to continue it, so most probably, our next card will be recycled,” Mr. Quiros said.

Security Bank saw its net income rise by 14.73% year on year to P2.65 billion in the third quarter of 2023.

Its shares went up by P1.05 or 1.46% to end at P73 apiece on Tuesday. — A.M.C. Sy

Maynilad starts operations of Valenzuela sewage treatment plant

MAYNILAD Water Services, Inc. said on Tuesday that it had started the initial operations of its newly constructed sewage treatment plant (STP) in Marulas, Valenzuela City, treating around 12 million liter per day (MLD) of wastewater.

The STP is designed to treat wastewater generated by some 300,000 customers within nine barangays in Valenzuela City, the company said in an e-mailed statement.

It will be able to collect and treat wastewater of up to 60 MLD once it has installed the 27.4-kilometer sewer network in the city within the year.

In particular, the STP will provide services to barangays Gen. T. De Leon, Karuhatan, Malinta, Marulas, Maysan, Parada, Paso De Blas, and portions of Lingunan and West Canumay.

Maynilad said that the Valenzuelaa STP serves as its 23rd wastewater treatment facility. It is expecting to have 27 wastewater treatment facilities by 2027 with the completion of the ongoing construction of four new ones in Las Piñas, Bacoor, and Tunasan and Cupang in Muntinlupa City.

The company is also upgrading a wastewater facility in Caloocan City.

“The Valenzuela Water Reclamation Facility is also among the STPs that Maynilad plans to eventually tap for the production of NEW WATER, or potable supply sourced from used water,” it said.

Maynilad serves Manila, except portions of San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon.

It also supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite province.

Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Optimizing business recovery with court-mandated guidelines for notification in financial rehabilitation proceedings

PEXELS-PIXABAY

Business organizations, like any other ventures, are not immune to the complexities of economic downturns that may be brought about by volatile market conditions, shifting consumer preferences, or unforeseen global events. Whether it is a multinational corporation navigating international markets or a small family-owned business operating in a local community, the impact of economic fluctuations can reverberate across industries and sectors. When faced with such challenges, businesses often find themselves navigating treacherous financial waters, struggling to stay afloat and maintain their operations to continue as a going concern. This is where the importance of financial rehabilitation becomes paramount. It offers businesses the opportunity to regain their financial footing and restore stability.

Under Section 7, Rule 2 of the 2013 Financial Rehabilitation Rules of Procedure (FR Rules), if the court finds the petition for rehabilitation to be sufficient in form and substance, it shall, within five working days from the filing of the petition, issue a Commencement Order, which shall include a Stay Order. Pursuant to Section 16 of the Financial Rehabilitation and Insolvency Act (FRIA) of 2010, this Stay or Suspension Order has the effect of, among others, suspending all actions or proceedings in court or otherwise, for the enforcement of all claims against the debtor, as well as suspending all actions to enforce any judgment, attachment, or other provisional remedies against the debtor.

While this Stay Order suspends all actions for claims against a business organization undergoing rehabilitation, it does not, however, work to divest a court of its jurisdiction over a case properly filed before it. As held in Philippine Airlines v. Spouses Sadic and Aisha Kurangking, et. al. [2002], the reasons behind the suspension of all claims are the following: 1.) to enable the rehabilitation receiver to effectively exercise its or his powers free from or unburdened by any judicial or extrajudicial interference that might unduly hinder or prevent the rescue of the debtor company; and, 2.) to enable the management committee or the rehabilitation receiver to substitute for the defendant in any pending action against it before any court, tribunal, board, or body. The law’s mandate is to consolidate the resolution of all such legal proceedings by and against the debtor to the rehabilitation court.

These claims include all claims or demands of whatever nature or character against the debtor or its property, whether for money or otherwise, liquidated or unliquidated, fixed or contingent, matured or unmatured, disputed or undisputed, including, but not limited to: 1.) all claims of the government, whether national or local, including taxes, tariffs, and customs duties; and, 2.) claims against directors and officers of the debtor arising from acts done in the discharge of their functions falling within the scope of their authority (Sec. 3, FRIA).

However, ensuring that other courts and tribunals are properly informed of the rehabilitation proceedings and the issuance of the Commencement Order that involves or affects the party litigants, whether as creditor or debtor, presents a practical challenge. In many cases, courts and tribunals are not promptly notified of such orders, thereby resulting in separate suits or appeals questioning orders or judgments rendered in violation of the Commencement Order. To illustrate, in cases where multiple creditors are involved, individual creditors may pursue separate legal actions against the same debtor, unaware of the ongoing rehabilitation process. This fragmented approach not only complicates the resolution of claims, but also hampers the debtor’s ability to restructure and regain financial stability. Further, it may result in conflicting judgments and prolonged legal battles, exacerbating the delays in the overall rehabilitation process and thereby impeding the debtor’s chances of successful recovery.

Therefore, to address this issue and to streamline the rehabilitation process, the Supreme Court En Banc outlined the guidelines on the matter of providing actual notice to the concerned courts or tribunals regarding the financial rehabilitation proceedings in its July 11, 2023 decision in the case of Pacific Cement v. Oil and Natural Gas Commission, G.R. No. 229471. The Supreme Court set the following guidelines to be observed in the conduct of financial rehabilitation proceedings pursuant to FRIA and FR Rules, to wit:

  1. Upon the appointment of a rehabilitation receiver, the rehabilitation court shall instruct the former to notify all courts or tribunals before which the debtor has pending actions, by way of manifestation, of the following: the existence of the petition for rehabilitation; the court where the petition was filed; the date of filing; and the fact of the issuance of commencement and stay orders.
  2. In cases where the petitioner is the debtor, the courts to be notified shall be those indicated in the verified petition and affidavit of general financial condition, as required by Section 2(A)(7) and (10), Rule 2(A) of the FR Rules.
  3. In cases where the petitioner is the creditor, the rehabilitation court shall, together with the appointment of a rehabilitation receiver, instruct the latter to ascertain the existence of any pending actions or proceedings by or against the debtor.
  4. The rehabilitation receiver shall report its compliance herewith to the rehabilitation court on the date of the initial hearing.
  5. The rehabilitation court shall further require the rehabilitation receiver, should the latter learn of any other pending actions by or against the debtor, to notify such other court/tribunal of the following: the existence of the petition for rehabilitation; the court where the petition was filed; the date of its filing; and the fact of the issuance of commencement and stay orders, by way of manifestation within five calendar days from the rehabilitation receiver’s knowledge of such other actions. The rehabilitation receiver shall also report to the rehabilitation court of the former’s compliance within five calendar days.

Clearly, the foregoing court-mandated guidelines on proper notification in financial rehabilitation proceedings carry several implications beyond simply ensuring courts are adequately informed. First, these guidelines streamline the legal process, reducing delays and complications in handling rehabilitation cases. Second, they enhance transparency and fairness by ensuring all involved parties are properly notified and have the opportunity to participate in the proceedings. Third, these guidelines promote the efficient resolution of legal matters related to rehabilitation, contributing to the overall effectiveness of the financial rehabilitation system. Finally, by establishing clear protocols for notification, these guidelines help safeguard the rights and interests of debtors, creditors, and other stakeholders involved in the rehabilitation process. All these factors pave the way for the business organization’s successful recovery and continued growth in the ever-dynamic business environment.

The views and opinions expressed in this article are those of the author. This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.

 

Wildy L. Pahayahay is an associate of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW), Davao Branch.

(6382) 224-0996

wlpahayahay@accralaw.com

Privacy by Design to help balance retail cyberthreats

NATALIYA VAITKEVICH-PEXELS

IMPROVED CYBERSECURITY and data security measures — including the adoption of a Privacy by Design (PbD) approach — can create a privacy-oriented retail environment, in turn building trust among consumers, according to a fintech expert.

PbD is the integration of privacy in the creation of devices, infrastructure, and policies. Examples of it include the end-to-end encryption of the messaging app, WhatsApp, as well as the differential privacy efforts of technology giant Apple, which helps prevent the extraction of data by adding noise to it.

This approach can also be practiced by family-owned stores, says Aleksei Kosenko, the president of UnaCash, a financial solutions provider that offers Buy Now, Pay Later (BNPL) services to merchants.

“It is practical for small businesses like mom-and-pop shops to follow PbD principles, even with limited resources,” he said in a Feb. 5 e-mail.

Mom-and-pop shops can tailor this to a minimum, he said, by “using tools to protect data without exhausting resources, and being clear in cascading data privacy rules on simple terms through their respective platforms [such as their website and social media] to secure data.”

Mr. Kosenko told BusinessWorld that embracing PbD early on helps build confidence among consumers, while shielding the business from data-related risks.

ONLINE RETAIL GROWTH
A November 2023 study by UnaCash found that the gross merchandise value (GMV) for BNPL purchase options is expected to increase by 173% in 2024.

The e-Conomy SEA report by Google, Temasek Holdings, and Bain & Co., meanwhile, projects a $24-billion GMV for Philippine e-commerce next year, surging to about $60 billion by 2030.

GMV is the total amount of sales a company makes over a specified period.

Statista, a market data portal, estimates that the number of e-commerce users in the Philippines will reach 60.41 million in 2027.

The Philippines’ gains in digitalization highlights the need for a balance between retail transformation and data protection, Mr. Kosenko said.

“We anticipate a sophisticated retail system, where predictive analytics and learning will not only enhance operation efficiency but also contribute to privacy-preserving solutions,” he e-mailed in a Jan. 31 statement.

The foremost goal for companies, he said, is the reduction of data breaches and online attacks through the implementation of a compliant data center infrastructure.

“This has a higher chance of security and is a holistic approach to data protection in the retail sector,” added Mr. Kosenko.

“Over time, a significant number of e-commerce players in the Philippines may adhere to the principles of PbD,” he also said, which “underscores the importance of prioritizing data confidentiality… to safeguard a robust data security ecosystem.” — Patricia B. Mirasol

Rice inflation spikes to over 14-year high in January

HEADLINE INFLATION sharply decelerated to an over three-year low of 2.8% in January, marking the second straight month it fell within the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target range. Read the full story.

 

Rice inflation spikes to over 14-year high in January

Grammy viewership jumps on night Taylor Swift sets record

WINNERS ALL: (L-R) Phoebe Bridgers, Lucy Dacus, and Julien Baker of boygenius, pose with their trophies for Best Alternative Music Album, the Best Rock Song, and Best Rock Performance, along with Taylor Swift who won Album of the Year and Best Pop Vocal Album, and Ms. Swift’s long-time collaborator Jack Antonoff, who won for Producer of the Year, Non-Classical, backstage during the 66th Annual Grammy Awards in Los Angeles on Feb. 4. —REUTERS/DAVID SWANSON

LOS ANGELES — Taylor Swift’s record-setting night at the Grammys drew the largest audience for music’s highest honors since a pre-pandemic show in 2020, broadcaster CBS said on Monday.

Television viewership averaged roughly 16.9 million people for the three-hour-plus ceremony shown live from Los Angeles, according to Nielsen data released by CBS. That was a 34% jump from last year.

Ms. Swift made history during Sunday’s telecast, winning an unprecedented fourth Album of the Year award with her pop record Midnights, and women swept the major awards. Ms. Swift also used the occasion to announce a new album.

TV viewership for traditional television, and entertainment award shows in particular, has been on the decline in recent years as viewers shift to streaming. Audiences dwindled even more during the constrained awards shows put on during the COVID-19 pandemic.

Sunday’s Grammy tally is close to last year’s audience for the Academy Awards, which drew about 18.7 million viewers.

The largest audience on US television every year is the Super Bowl football championship, which typically draws around 100 million viewers.

CBS said live streaming viewership of the Grammys hit a record on Paramount+, jumping 173% from a year ago, but it did not provide the size of the streaming audience. — Reuters

How PSEi member stocks performed — February 6, 2024

Here’s a quick glance at how PSEi stocks fared on Tuesday, February 6, 2024.


Philippines’ OWWA hacked 17,000 times in Jan.

TOWFIQU BARBHUIYA-UNSPLASH

By Beatriz Marie D. Cruz, John Victor D. Ordoñez, and Kyle Aristophere T. Atienza, Reporters

HACKERS using Chinese IP (internet protocol) addresses tried to hack the website of the Overseas Workers Welfare Administration (OWWA) more than 17,000 times last month, according to the Philippines’ telecommunication regulator.

The hackers targeted two servers that host web applications used by overseas Filipino workers (OFW), Information and Communications Technology Undersecretary Jeffrey Ian C. Dy told congressmen investigating the cyber-attacks on Tuesday.

“It was found that the attacks were brute force attacks, which use a trial-and-error approach to systematically guess login information, credentials and encryption keys,” he told the House of Representatives hearing.

“Investigations show that the attackers had multiple IP addresses coming from cnc.net, which is located in China,” Mr. Dy said. The Department of Information and Communications Technology (DICT) also detected multiple hacking attempts on OWWA’s website in December, he added.

At the weekend, DICT said it had blocked cyber-attacks allegedly by Chinese hackers on the websites of several Philippine agencies. Google Workspace, which hosts the Philippine government’s mail and file storage for nonconfidential information, was also attacked.

DICT traced the hackers’ IP addresses to state-owned China United Network Communications Group.

“Google, through their tactical operations center, Mandiant, called our National Computer Emergency Response Team because they also detected a similar cybersecurity incident… on Google,” Mr. Dy told congressmen.

He said hackers had targeted the e-mail domains of several government agencies including the Cabinet Secretary, Philippine Coast Guard, Congressional Policy and Budget Research Department, DICT, Department of Justice, the National Coast Watch System and the President’s official website.

Mr. Dy. said they don’t have proof that China was behind the attacks. “We lack direct evidence conclusively linking these incidents to… the Chinese government.”

The Philippine National Police will set up a cybersecurity operation center to strengthen its capacity against cybercrime, anti-cybercrime group Director Brigadier General Sidney S. Hernia told congressmen.

Meanwhile, Senator Ana Theresia N. Hontiveros-Baraquel filed a resolution seeking a similar probe by the Senate, noting that the attacks were alarming since these could lead to surveillance of state plans in the South China Sea.

Tensions between the Philippines and China have worsened amid Chinese efforts to block Philippine resupply missions seeking to deliver food and other basic goods to a grounded ship at Second Thomas Shoal in the South China Sea.

“We do not know, but Chinese hackers might have installed malware in our Philippine Coast Guard (PCG) assets,” Ms. Hontiveros-Baraquel said in a statement in mixed English and Filipino.

“These recent cyber-intrusions threaten to compromise resupply missions to Ayungin shoal, the security of Philippine Armed Forces personnel stationed on the BRP Sierra Madre and the wider Philippine national interests in the West Philippine Sea,” she added.

‘HIGHLY IRRESPONSIBLE’
China claims most of the South China Sea, parts of which are also claimed by the Philippines, Brunei, Malaysia, Taiwan, Vietnam and Indonesia. An international tribunal in 2016 voided China’s claim, which Beijing has rejected.

The Philippine Coast Guard on Monday said its website had not been hacked.

The Chinese Embassy in Manila denied that China was behind the hacking, saying speculations about its involvement were baseless and “highly irresponsible.”

“The Chinese government all along firmly opposes and cracks down on all forms of cyber-attacks in accordance with the law, allows no country or individual to engage in cyber-attacks and other illegal activities on Chinese soil or using Chinese infrastructure,” it in a statement.

“China calls on all countries to jointly safeguard cyber-security through dialogue and cooperation.”

A similar cyber-espionage operation targeted an unnamed Southeast Asian government earlier this year, Ms. Hontiveros-Baraquel said, citing a 2023 study by Palo Alto research firm Unit 42.

“The investigation we conducted revealed that what initially appeared as a single attack orchestrated by a solitary threat actor was not so simple,” Unit 42 said in the study. “It unfolded into a complex operation of multiple infiltrations carried out across three distinct clusters of activity.”

Also on Tuesday, Interior and Local Government Secretary Benjamin Abalos, Jr. said he would soon greenlight the creation of a cyber-crime training institute under the Philippine National Police’s Public Safety College.

“It already has a structure, with the Board of Trustees and all,” he told a palace news briefing after meeting with the President.

Only police personnel at the regional level are trained in cyber-crime, national police chief Benjamin C. Acorda, Jr. told the same briefing. “Although seemingly we have seen our crime statistics improve — it went down by 10% — there is a need for us to focus on cyber-crimes.”

Mr. Acorda said they have trained more than 400 officers in cyber-security. The President has ordered him to expand the training to include police stations at the local level using their 2024 budgets, he added.

The top cybercrimes in the country include swindling, with 15,000 cases in the past seven months from just 5,452 cases from December 2020 to June 2022, Mr. Acorda said.

The cost of cybercrimes to the global economy surpassed $8 trillion (P450 trillion) in 2022, according to Evolve Security, citing data from Statista. This likely increased to $11 trillion last year and could rise further to $20 trillion by 2026, it said.

Mr. Acorda said online scams are the most common cyber-crimes in the country.

The Philippines’ shopping scam rate hit 35.9%, the highest among 11 Asian countries surveyed, according to the 2023 Asia Scam report, which was based on data collected from 20,000 respondents.

UP report: 28 drug suspects died in January under Marcos

PHILIPPINE STAR/MICHAEL VARCAS

TWENTY-EIGHT people were killed last month under the Marcos government’s war on drugs, with the southern Philippine city of Davao accounting for most deaths, according to a University of the Philippines (UP) report.

Sixteen died in the hands of unidentified killers, nine were killed by police and three by armed civilians, according to the latest report of Dahas Project released by the UP Third World Studies Center on Tuesday.

“Most of those killed had prior drug records.”

UP earlier said 506 drug suspects died under the Marcos government in 2022 and 2023.

It said Davao City, the bailiwick of ex-President Rodrigo R. Duterte, had five killings, three of which were high-value suspects killed by police.

National police chief Benjamin C. Acorda, Jr. said the fight against illegal drugs under President Ferdinand R. Marcos, Jr. would remain aggressive and transparent.

“We want it to be aggressive but honest,” he told BusinessWorld when sought for comment. “It’s not our intention to kill. We are just implementing the law.”

“If ever we use force, it is within the ambit of the law,” he said in an interview. Mr. Acorda said erring cops would be investigated by the Internal Affairs Service (IAS). “I gave a specific instruction to our IAS to really look into any kind of operations that are done outside [the law].”

Civilians should file a complaint if they think the law was violated, he added.

Dahas earlier noted that 342 drug suspects were killed by police a year into the President’s term.

The International Criminal Court (ICC) is investigating Mr. Duterte, 78, for his deadly drug war.

The government estimates that at least 6,117 people were killed in Mr. Duterte’s drug war between July 2016 and May 2022, but domestic and international human rights groups say the death toll could be as high as 30,000.

The ICC probe covers crimes committed in Davao City from November 2011 to June 2016 when he was still its mayor, as well as cases during his presidency up until March 16, 2019, the day before the Philippines withdrew from the ICC.

Last month, Mr. Marcos said ICC investigators may visit the country, but they would not get any help from the government.

“I consider it a threat to our sovereignty. Therefore, the Philippine government will not lift a finger to help any investigation that the ICC conducts,” he said.

That was days before Mr. Duterte attacked his government in a political rally in Davao City on Jan. 28, calling Mr. Marcos a drug addict.

Mr. Marcos fired back by saying his predecessor might still be reeling from the effects of fentanyl use.

Mr. Duterte last week dialed up his attack and threatened to separate Mindanao from the rest of the nation through a signature campaign.

In a statement on Tuesday, Liberal Party spokesperson Leila M. de Lima said Mr. Duterte’s rhetoric “was not motivated by a genuine desire for regional development, but rather a desperate attempt to deflect scrutiny and avoid accountability for his actions during his presidency.”

The ex-President has “a pattern of exploiting divisive tactics for personal gain,” she said, citing his abrupt withdrawal from the ICC in 2018.

“Now, faced with potential legal repercussions, he resurrects the secession issue, a highly sensitive and complex topic, to manipulate public discourse and divert attention.”

Ms. De Lima was released from detention in November last year after a local court granted her request for bail while being tried in a final drug case, which was filed against her along with other charges after she led a Senate inquiry in 2016 into Mr. Duterte’s drug war. — Kyle Aristophere T. Atienza

House asks Senate to fast-track ‘Cha-cha’ before campaign

BW FILE PHOTO

CONGRESSMEN on Tuesday asked senators to fast-track their push to change the 1987 Constitution before they get busy in the campaign for midterm elections next year.

House Majority Leader and Zamboanga City Rep. Manuel Jose M. Dalipe noted that proposals to amend the Charter usually fizzle out in the second half of any administration. “That’s why we have this sense of urgency,” he told a news briefing.

Senator Juan Edgardo “Sonny” M. Angara on Monday said the Senate seeks to finish proposing changes to the Constitution by October.

Mr. Dalipe said the “election fever” is about to start and the Charter change (“Cha-cha”) push could get politicized.

The Commission on Elections has set the filing of certificates of candidacy for the 2025 midterm elections for October.

“We are surprised why all of a sudden Senator Angara mentioned an October [deadline,]” Bataan Rep. Geraldine B. Roman told the briefing.

The congressmen cited Senate President Juan Miguel F. Zubiri’s earlier announcement that Charter change deliberations in the Senate should be done before the Holy Week break next month.

Senators on Monday started hearings on its Resolution of Both Houses No. 6, which seeks to ease foreign ownership restrictions in the Constitution.

Congressmen on Monday adopted House Resolution No. 1562, backing Speaker Ferdinand Martin G. Romualdez “in the face of intense assault by the Senate” after he was linked to a signature campaign to change the Charter through a so-called people’s initiative.

Tensions between the two chambers heightened after Senator Maria Imelda “Imee” R. Marcos accused the Speaker, her cousin, and several congressmen of being behind the distribution of P20 million in cash to gather signatures for Charter change.

House Senior Deputy Speaker and Pampanga Rep. Aurelio D. Gonzales, Jr. said the resolution was filed to express the House of Representatives’ collective sentiment amid “ongoing attacks on the Speaker and the institution.”

He noted that during a caucus last week, congressmen were angered by the remarks of several senators against Mr. Romualdez and the chamber.

“We in the leadership need to temper the situation,” Mr. Gonzales said. “Hence, we agreed to draft and release a House resolution to convey our collective sentiment.”

Meanwhile, the Philippine National Police (PNP) would not intervene in the people’s initiative until there is proof of bribery or coercion, chief Benjamin C. Acorda, Jr. told a palace briefing.

“As long as there is no coercion, bribery or anything that is tantamount to violation of the law or the intent of the Constitution, the PNP cannot come in,” he said. — Beatriz Marie D. Cruz

Philippines told to work with tech firms vs online child exploitation

PIXABAY

By John Victor D. Ordoñez, Reporter

TO BETTER combat child exploitation, the Philippines must not only pass more online safety laws but also partner with local and global technology firms to stop cybercriminals from using livestreaming platforms, an international legal group said on Tuesday.

“The government must ensure enforcement provisions of the anti-online sexual online exploitation of children law to prevent or disrupt livestreamed child sexual abuse,” Reynaldo H. Bicol, Jr., International Justice Mission (IJM) head, said at the Safer Internet Day Conference organized by ChildFund Alliance.

Citing an IJM report conducted in 2020, Mr. Bicol said nearly half a million Filipino children were trafficked to produce child sexual exploitation material in 2022.

The report noted that nearly a quarter of a million adult Filipinos were involved in trafficking children for such purposes.

Mr. Bicol said Congress must also pass more online safety legislation to deter online sexual exploitation of children as well as fast-tracking the detention and reporting of suspicious financial transactions linked to these crimes.

As a human rights lawyer, he leaned on the need for community-based reporting of child sexual abuse, improving the criminal justice response against offenders, and enhancing preventive measures.

The Anti-Online Sexual Abuse and Exploitation Children Act, which established the National Coordination Center against Online Sexual Abuse Against Children, lapsed into law in July 2022.

Its implementing rules and regulations were released in May last year, which mandates the creation of an online sexual offenders registry for foreigners and Filipinos.

In a 2022 study, the United Nations Children’s Fund (UNICEF) said about 20% of children aged 12-17 were prone to online sexual abuse and exploitation, with 23% of children not telling anyone of the harm they experienced.

Last year, Justice Secretary Jesus Crispin C. Remulla said the Philippines remains a primary destination for online sexual abuse and exploitation of children due to poverty and widespread internet access.

Saudis start paying OFW claims

MIGRANT Filipino workers who lost their jobs due to the bankruptcies of Saudi Arabian companies in 2015 and 2016 have started receiving their unpaid compensation, President Ferdinand R. Marcos, Jr. said Tuesday.

The President said the Overseas Filipino Bank (AFB) and Land Bank of the Philippines (LANDBANK) have started to process at least 1,104 checks from the Alinma Bank Indemnity of Saudi Arabia.

Of these, 843 checks amounting to close to P700 million in total had been cleared and credited in peso equivalent, said Mr. Marcos.

During his bilateral meeting with Mr. Marcos on the sidelines of the Asia-Pacific Economic Cooperation Summit in Bangkok in November last year, Saudi Crown Prince Mohammed bin Salman Al Saud promised that some 2 billion Riyals will be paid to 10,544 overseas Filipino workers (OFWs) affected by the bankruptcies about nine years ago, the Palace said in a press release. — Kyle Aristophere T. Atienza