QuestionsQuestions (Republic Act No. 8484)
Its short title is the “Access Devices Regulation Act of 1998.” The State policy is to protect the rights and define liabilities of parties in commercial transactions involving access devices by regulating their issuance and use.
An Access Device includes any card, plate, code, account number, electronic serial number, personal identification number (PIN), or other telecommunications/equipment/instrumental identifier, or other means of account access that can be used to obtain money, goods, services, or other things of value, or initiate fund transfers (except transfers originated solely by paper instrument).
Unauthorized Access Device refers to an access device that is stolen, lost, expired, revoked, canceled, suspended, or obtained with intent to defraud. Access Device Fraudulently Applied For refers to an access device applied for or issued based on falsified documents, false information, fictitious identities/addresses, or any false pretense or misrepresentation.
It is any access device that is counterfeit, fictitious, altered, or forged, including any identifiable component of such counterfeit device.
The issuer must disclose in writing or orally the annual percentage rate (and range if variable), each annual and other fee (including maintenance, activity/inactivity fees), minimum finance charge, transaction charges, penalty charges for delayed payment, balance calculation method, and cash advance fees and over-the-limit fees—plus additional catalog/magazine publication disclosures such as the accuracy date, that information may change, where to obtain updated information, and a contact number/address.
Disclosures may be omitted in telephone solicitation/application if no fee is imposed for certain items, if fees for telephone solicitation apply only upon the consumer’s acceptance by using the card, if the required written disclosures are provided within 30 days after request (and not later than card delivery), and if the issuer clearly states the consumer has no obligation to accept and will not owe fees/charges unless they accept by using the card.
After due notice and hearing, it may be subject to suspension or cancellation of its authority to issue credit cards by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission, and other concerned government agencies.
Examples include producing/using/trafficking in counterfeit or unauthorized access devices (and those fraudulently applied for), using unauthorized devices or devices fraudulently applied for with intent to defraud, possessing counterfeit or fraudulently applied devices, producing/trafficking/possessing device-making equipment without lawful business/employment, inducing others for consideration to produce/use/traffic in such devices, falsifying sales slips or multiple imprinting to misrepresent transactions, disclosing account information without authority, obtaining money/value with intent to defraud and fleeing, possessing unauthorized access device materials, altering sales slip amounts or approval numbers, effecting transactions using another person’s access devices to receive payment, and presenting records of transactions for payment without authorization.
Penalties include fines of P10,000 or twice the value obtained (whichever is greater) plus imprisonment ranges. Offenses under Section 9(b)-(e) and (g)-(p) carry 6–10 years (with higher penalties if committed after prior conviction under the same subsection). Offenses under Section 9(a) and (f) carry 10–12 years (with increased penalties if after prior conviction). Other offenses under Section 9 carry 12–20 years or both, or the maximum range increases when committed after a prior conviction.
If two or more persons conspire and one or more performs an act to effect the object of the conspiracy, each conspirator is punished as if the object act had been done (i.e., same as consummated offense object of the conspiracy).
If the offender performs all acts of execution that would produce the prohibited acts but fails due to causes independent of the offender’s will, the penalty is 2/3 of the fine and imprisonment for the consummated offenses. If the offender begins directly by overt acts but does not perform all acts of execution due to a cause or accident other than spontaneous desistance, the penalty is 1/2 of those for the consummated offenses.
One who buys/receives/possesses/keeps/acquires/conceals/sells/disposes of an article or item of value knowing or should be known it was acquired through counterfeit/unauthorized devices or devices fraudulently applied for is an accessory. The penalty is half the fine and imprisonment provided for the applicable consummated offenses. The person is prosecuted either under RA 8484 or the Anti-Fencing Law, whichever imposes the longer prison term.
Certain possession/control/custody situations create prima facie evidence of intent to defraud, including possession of unauthorized devices without permission, counterfeit devices, devices fraudulently applied for, device-making/altering equipment by persons not lawfully dealing in such business, access device or medium not in the ordinary course of the possessor’s trade, and genuine devices not in the possessor’s name or outside ordinary trade/business. Additionally, a cardholder who abandons/surreptitiously leaves the address stated in the application (without informing the issuer) while the outstanding unpaid balance is past due by at least 90 days and exceeds P10,000 is prima facie presumed to have used the credit card with intent to defraud.
The holder must notify the issuer of the details and circumstances of the loss upon knowledge of loss. Full compliance absolves the holder of financial liability from fraudulent use from the time the loss or theft is reported to the issuer.
All companies issuing access devices (including banks, financing companies, and other financial institutions) must annually, on or before March 31 of the succeeding year, report access device frauds committed against holders in the preceding calendar year to the Credit Card Association of the Philippines for consolidation and submission to the NBI. Banks/financing companies/other financial institutions continue to be supervised by the Bangko Sentral ng Pilipinas, while other issuers are supervised by the SEC.
No. Section 17 states that prosecution under RA 8484 is without prejudice to liability for violation of the Revised Penal Code or any other law.