Financial Crime World

Identity Theft Epidemic Hits the Philippines as Technology Advances

The Growing Problem of Identity Theft

The Philippines is facing a rapidly growing problem of identity theft, with cybercriminals taking advantage of advanced technology to steal personal information and commit financial fraud. According to experts, identity theft occurs when an individual’s personal details are used to open new accounts, make purchases, or claim tax refunds without their consent.

Under the Cybercrime Prevention Act of 2012, computer-related identity theft is defined as:

  • “The intentional acquisition, use, misuse, transfer, possession, alteration or deletion of identifying information belonging to another, whether natural or juridical, without right.”
  • This includes the unauthorized use of personal data such as:
    • Names
    • Dates of birth
    • Driver’s license numbers
    • Biometric information

The law also covers fake accounts created using someone else’s name or identifying information, even if the victim does not suffer any financial loss. Those found guilty of identity theft can face imprisonment ranging from 6 months to 10 years, depending on the severity of the offense.

In addition to the Cybercrime Prevention Act, the crime of estafa under the Revised Penal Code also covers identity theft-related offenses. Estafa is a form of fraud that involves deceiving someone into giving up their property or money through false pretenses. Those found guilty of estafa can face imprisonment ranging from 2 years and 4 months to 14 years, depending on the amount involved.

Prevention Measures

To prevent identity theft, experts advise individuals to be vigilant about protecting their personal information online and offline. This includes:

  • Using strong passwords
  • Keeping software up-to-date
  • Being cautious when sharing personal details with others

Support for Identity Theft Victims

The Philippine National Privacy Commission has yet to establish a dedicated resource for identity theft victims, unlike in the United States where the Federal Trade Commission provides a one-stop resource for those affected by identity theft. However, authorities are working to strengthen laws and regulations to combat the growing threat of identity theft in the Philippines.

Conclusion

Identity theft is a serious problem that requires immediate attention and action. By understanding the legal framework surrounding identity theft and taking preventive measures, individuals can protect themselves from this growing threat.