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House passes first readings of ‘Cyber Crime’ and ‘Digital Asset Business’ laws

House passes first readings of ‘Cyber Crime’ and ‘Digital Asset Business’ laws

11 Sept 15:06 Key points summarised by AI
  • The House of Representatives unanimously passed the first readings of two new bills: the Prevention and Suppression of Technology Crime Act and the Digital Asset Business Act.
  • The Cyber Crime Act aims to combat extensive damage from call center scams by holding financial institutions and mobile service providers accountable for customer losses.
  • A key provision mandates commercial banks and phone service providers to share losses with victims, encouraging them to improve safety mechanisms and ensure fairness.
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