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Article: Credit card fraud in RP remains manageable - BSP.(Business)
- Article from:
- Manila Bulletin
- Article date:
- June 27, 2005
CopyrightCOPYRIGHT 2005 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: LEE C. CHIPONGIAN
The Bangko Sentral ng Pilipinas said the local credit card industry has assured monetary authorities that they have taken "significant" steps to make sure credit card scams or fraud are contained to manageable incidents.
The assurance follows news reports in the US that MasterCard International, the worlds second largest card network, suffered a security breach at one of its payment and data processing units, which put at risk 40 million cardholder accounts worldwide.
BSP Deputy Governor Amando M. Tetangco Jr. said local credit card providers have put in place procedures to detect threats to their security systems, or ...