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R.A. 8484

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RepublicofthePhilippines

CongressofthePhilippines

MetroManila

TenthCongress

RepublicActNo.8484

February11,1998

ANACTREGULATINGTHEISSUANCEANDUSEOFACCESSDEVICES,PROHIBITINGFRAUDULENTACTS

COMMITTEDRELATIVETHERETO,PROVIDINGPENALTIESANDFOROTHERPURPOSES

BeitenactedbytheSenateandHouseofRepresentativesofthePhilippinesinCongressassembled::

Section1.Shorttitle.–ThisActshallbeknownasthe"AccessDevicesRegulationActof1998."

Section2.Declarationofpolicy.–TheStaterecognizestherecentadvancesintechnologyandthewidespread

useofaccessdevicesincommercialtransactions.Towardthisend,theStateshallprotecttherightsanddefinethe

liabilitiesofpartiesinsuchcommercialtransactionsbyregulatingtheissuanceanduseofaccessdevices.

Section3.Definitionofterms.–ForpurposesofthisAct,theterms:

(a) Access Device – means any card, plate, code, account number, electronic serial number, personal identification number, or other telecommunications service, equipment, or instrumental identifier, or other meansofaccountaccessthatcanbeusedtoobtainmoney,good,services,oranyotherthingofvalueorto initiateatransferoffunds(otherthanatransferoriginatedsolelybypaperinstrument);

(b)CounterfeitAccessDevice–meansanyaccessdevicethatiscounterfeit,fictitious,altered,orforged,or

anidentifiablecomponentofanaccessdeviceorcounterfeitaccessdevice;

(c)UnauthorizedAccessDevice–meansanyaccessdevicethatisstolen,lost,expired,revoked,canceled,

suspended,orobtainedwithintenttodefraud;

(d)AccessDeviceFraudulentlyAppliedfor–meansanyaccessdevicethatwasappliedfororissuedon

accountoftheuseoffalsifieddocument,falseinformation,fictitiousidentitiesandaddresses,oranyformof

falsepretenseormisrepresentation;

(e)Consumer–meansanaturalperson;

(f) Credit Card – means any card, plate, coupon book, or other credit device existing for the purpose of obtainingmoney,goods,property,labororservicesoranythingofvalueoncredit;

(g)DeviceMakingorAlteringEquipment–meansanyequipment,mechanismorimpressiondesignedor

primarilyusedformakingoralteringorreencodinganaccessdeviceoracounterfeitaccessdevice;

(h)FinanceCharges–representtheamounttobepaidbythedebtorincidenttotheextensionofcreditsuch

asinterestordiscounts,collectionfees,creditinvestigationfees,andotherservicecharges;

(i)Open­end­creditplan–meansaconsumercreditextendedonanaccountpursuanttoaplanunderwhich:

1)thecreditormaypermitthepersontomakepurchaseorobtainloans,fromtimetotime,directlyfrom

thecreditororindirectlybyuseofcreditcard,orotherservice;

2)thepersonhastheprivilegeofpayingthebalance;or

3) a finance charge may be computed by the creditor from time to time on an unpaid balance.(j) PenaltyCharges–meanssuchamount,inadditiontointerest,imposedonthecreditcardholderfor non­paymentofanaccountwithinaprescribedperiod;

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(k)Produce–includesdesign,alter,authenticate,duplicateorassemble;and

(l)Trafficking–meanstransferring,orotherwisedisposingof,toanother,orobtainingcontrolof,withintentto

transferordisposeof.

Section4.CreditCardApplicationandSolicitation.–Anyapplicationtoopenacreditcardaccountforany

personunderanopen­endcreditplanorasolicitationtoopensuchanaccount,eitherbymail,telephoneorother

means,shalldiscloseinwritingororally,asthecasemaybe,thefollowinginformation:

(a)AnnualPercentageRate

1)Eachannualpercentagerateofinterestontheamountofcreditobtainedbythecreditcardholder

undersuchcreditplan.Whereanextensionofcreditissubjecttoavariablerate,thefactthattherate

isvariable,andtheannualpercentagerateineffectatthetimeofthemailing.

2)Wheremorethanonerateapplies,therangeofbalancestowhicheachrateapplies.

(b)AnnualandotherFees

1)Anyannualfee,otherperiodicfee,ormembershipfeeimposedfortheissuanceoravailabilityofa

creditcard,includinganyaccountmaintenancefeeoranyotherchargeimposedbasedonactivityor

inactivityfortheaccountduringthebillingcycle.

2)Anyminimumfinancechargeimposedforeachperiodduringwhichanyextensionofcreditwhichis

subjecttoafinancechargeisoutstanding.

3)Anytransactionchargeimposedinconnectionwithuseofthecardtopurchasegoodsorservices.

4)Anyfee,penaltyorsurchargeimposedforthedelayinpaymentofanaccount.

(c)BalanceCalculationMethod–thenameoradetailedexplanationofthebalancecalculationmethodused

indeterminingthebalanceuponwhichthefinancechargeiscomputed.

(d)CashAdvanceFee–anyfeeimposedforanextensionofcreditintheformofcash.

(e)Over­the­Limit­Fee–anyfeeimposedinconnectionwithanextensionofcreditinexcessoftheamountof credit authorized to be extended with respect to such amount: Provided, however, That in case the applicationorsolicitationtoopenacreditcardaccountforanypersonunderanopen­endconsumercredit planbemadethroughcatalogs,magazines,orotherpublications,thefollowingadditionalinformationshallbe disclosed:

1)Astatement,inaconspicuousandprominentlocationontheapplicationorsolicitation,that:

i)theinformationisaccurateasofthedatetheapplicationorsolicitationwasprinted;

ii)theinformationcontainedintheapplicationorsolicitationissubjecttochangeaftersuchdate;

iii) the applicant should contact the creditor for information on any change in the information containedintheapplicationorsolicitationsinceitwasprinted;

(2)Thedatetheapplicationorsolicitationwasprinted;and

(3) In a conspicuous and prominent location on the application or solicitation, a toll free telephone numberormailingaddresswhichtheapplicantmaycontacttoobtainanychangeintheinformation providedintheapplicationorsolicitationsinceitwasprinted.

Section5.Computations.–Inadditiontotheforegoing,acreditcardissuermust,totheextentpracticable,provide

adetailedexplanationandaclearillustrationofthemannerbywhichallchargesandfeesarecomputed.

Section6.Exceptions.–ThedisclosuresrequiredunderSection4ofthisActmaybeomittedinanytelephone

solicitationorapplicationifthecreditcardissuer:

(a)doesnotimposeanyfeeinconnectionwithparagraph(b)(1),Section4ofthisAct;

(b) does not impose any fee in connection with telephone solicitation unless the consumer signifies acceptancebyusingthecard;

(c)disclosesclearlytheinformationdescribedinSection4ofthisActinwritingwithinthirty(30)daysafterthe

consumerrequeststhecard,butinnoeventlaterthanthedateofdeliveryofthecard;and

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(d)disclosesclearlythattheconsumerisnotobligatedtoacceptthecardoraccountandtheconsumerwill

not be obligated to pay any fees or charges disclosed unless the consumer elects to accept the card or

accountbyusingthecard.

Section7.DisclosurePriortoRenewal.–Exceptintelephonesolicitationsacardissuerthatimposesanyfee

describedinSection4shalltransmittoaconsumer'screditcardaccountaclearandconspicuousdisclosureof:

(a)thedatebywhich,themonthbywhich,orthebillingperiodatthecloseofwhich,theaccountwillexpireif

notrenewed;

(b)theinformationdescribedinSection4whichshallbetransmittedtoaconsumeratleastthirty(30)days

priortothescheduledrenewaldateoftheconsumer'screditcardaccount;

(c) the information described in Section 4 (a) (1) which shall be transmitted to a consumer's credit card

account;and

(d) the method by which the consumer may terminate continued credit availability under the account:

Provided,Thatthedisclosuresrequiredbythissectionmustbemadepriortopostingafeedescribedin

Section4(b)(1)totheaccount,orwiththeperiodicbillingstatementfirstdisclosingthatthefeehasbeen

posted to the account subject to the condition that the consumer is given thirty (30) day period to avoid paymentofthefeeortohavethefeerecreditedtotheaccountinanycasewheretheconsumerdoesnot wishtocontinuetheavailabilityofthecredit.

Section8.FailuretoDisclose.–Creditcardcompanieswhichshallfailtodisclosetheinformationrequiredunder

Sections4,5and7ofthisAct,afterduenoticeandhearing,shallbesubjecttosuspensionorcancellationoftheir

authoritytoissuecreditcardsbytheBangkoSentralngPilipinas,SecuritiesandExchangeCommissionandsuch

othergovernmentagencies.

Section9.ProhibitedActs.–Thefollowingactsshallconstituteaccessdevicefraudandareherebydeclaredtobe

unlawful:

(a)producing,using,traffickinginoneormorecounterfeitaccessdevices;

(b)traffickinginoneormoreunauthorizedaccessdevicesoraccessdevicesfraudulentlyappliedfor;

(c)using,withintenttodefraud,anunauthorizedaccessdevice;

(d)usinganaccessdevicefraudulentlyappliedfor;

(e)possessingoneormorecounterfeitaccessdevicesoraccessdevicesfraudulentlyappliedfor;

(f)producing,traffickingin,havingcontrolorcustodyof,orpossessingdevice­makingoralteringequipment

without being in the business or employment, which lawfully deals with the manufacture, issuance, or

distributionofsuchequipment;

(g)inducing,enticing,permittingorinanymannerallowinganother,forconsiderationorotherwisetoproduce,

use,trafficincounterfeitaccessdevices,unauthorizedaccessdevicesoraccessdevicesfraudulentlyapplied

for;

(h)multipleimprintingonmorethanonetransactionrecord,salessliporsimilardocument,therebymakingit

appearthatthedeviceholderhasenteredintoatransactionotherthanthosewhichsaiddeviceholderhad

lawfullycontractedfor,orsubmitting,withoutbeinganaffiliatedmerchant,anordertocollectfromtheissuer

oftheaccessdevice,suchextrasalesslipthroughanaffiliatedmerchantwhoconnivestherewith,or,under

falsepretensesofbeinganaffiliatedmerchant,presentforcollectionsuchsalesslips,andsimilardocuments;

(i)disclosinganyinformationimprintedontheaccessdevice,suchas,butnotlimitedto,theaccountnumber

ornameoraddressofthedeviceholder,withoutthelatter'sauthorityorpermission;

(j)obtainingmoneyoranythingofvaluethroughtheuseofanaccessdevice,withintenttodefraudorwith

intenttogainandfleeingthereafter;

(k)havinginone'spossession,withoutauthorityfromtheowneroftheaccessdeviceortheaccessdevice

company,anaccessdevice,oranymaterial,suchasslips,carbonpaper,oranyothermedium,onwhichthe

accessdeviceiswritten,printed,embossed,orotherwiseindicated;

(l)writingorcausingtobewrittenonsalesslips,approvalnumbersfromtheissueroftheaccessdeviceofthe

factofapproval,whereinfactnosuchapprovalwasgiven,orwhere,ifgiven,whatiswrittenisdeliberately

differentfromtheapprovalactuallygiven;

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(m)makinganyalteration,withouttheaccessdeviceholder'sauthority,ofanyamountorotherinformation

writtenonthesalesslip;

(n)effectingtransaction,withoneormoreaccessdevicesissuedtoanotherpersonorpersons,toreceive

paymentoranyotherthingofvalue;

(o)withouttheauthorizationoftheissueroftheaccessdevice,solicitingapersonforthepurposeof:

1)offeringanaccessdevice;or

2)sellinginformationregardingoranapplicationtoobtainanaccessdevice;or

(p)withouttheauthorizationofthecreditcardsystemmemberoritsagent,causingorarrangingforanother

persontopresenttothememberoritsagent,forpayment,oneormoreevidenceorrecordsoftransactions

madebycreditcard.

Section10.Penalties.–Anypersoncommittinganyoftheactsconstitutingaccessdevicefraudenumeratedinthe

immediatelyprecedingsectionshallbepunishedwith:

(a) a fine of Ten thousand pesos (P10,000.00) or twice the value obtained by the offense, whichever is

greaterandimprisonmentfornotlessthansix(6)yearsandnotmorethanten(10)years,inthecaseofan

offenseunderSection9(b)­(e),and(g)­(p)whichdoesnotoccurafteraconvictionforanotheroffenseunder

Section9;

(b)afineofTenthousandpesos(P10,000.00)ortwicethevalueobtainedbytheoffense,andimprisonment

fornotlessthanten(10)yearsandfornotmorethantwelve(12)years,inthecaseofanoffenseunder

Section9(a),and(f)oftheforegoingsection,whichdoesnotoccurafteraconvictionforanotheroffense

underSection9;and

(c)afineofTenthousandpesos(P10,000.00)ortwicethevalueobtainedbytheoffense,orimprisonmentfor

notlessthantwelve(12)yearsandnotmorethantwenty(20)years,orboth,inthecaseofanyoffenseunder

Section9,whichoccursafteraconvictionforanotheroffenseundersaidsubsection,oranattempttocommit

thesame.

Section11.Conspiracytocommitaccessdevicefraud.–Iftwo(2)ormorepersonsconspiretocommitanyof

theoffenseslistedinSection9andoneormoreofsuchpersonsdoesanyacttoeffecttheobjectoftheconspiracy,

eachofthepartiestosuchconspiracyshallbepunishedasinthecaseofthedoingoftheact,theaccomplishment

ofwhichistheobjectofsuchconspiracy.

Section12.Frustratedandattemptedaccessdevicefraud.–Anypersonwhoperformsalltheactsofexecution

whichwouldproduceanyoftheunlawfulactsenumeratedinSection9ofthisAct,butwhichneverthelessdoesnot

produceitbyreasonofcausesindependentofthewillofsaidperson,shallbepunishedwithtwo­thirds(2/3)ofthe

fineandimprisonmentprovidedfortheconsummatedoffenseslistedinsaidsection.Anypersonwhocommences

thecommissionofanyoftheunlawfulactsenumeratedinSection9ofthisActdirectlybyovertactsanddoesnot

performalltheactsofexecutionwhichwouldproducethesaidactsbyreasonofsomecauseoraccidentotherthan said person's own spontaneous desistance, shall be punished with one­half (1/2) of the fine and imprisonment providedfortheconsummatedoffenseslistedinthesaidsection.

Section13.Accessorytoaccessdevicefraud.–Anypersonwho,withintenttogainforhimselforforanother,

buy,receives,possesses,keeps,acquires,conceals,sells,ordisposesof,shallbuyandsell,orinanymannerdeal inanyarticle,item,objectoranythingofvaluewhichheknowsorshouldbeknowntohim,tohavebeenacquired throughtheuseofcounterfeitaccessdeviceoranunauthorizedaccessdeviceoranaccessdeviceknowntohimto havebeenfraudulentlyappliedfor,shallbeconsideredasanaccessorytoanaccessdevicefraudandshallbe

punishedwithone­half(1/2)ofthefineandimprisonmentprovidedfortheapplicableconsummatedoffenseslisted

inSection9ofthisAct.SaidpersonshallbeprosecutedunderthisActorundertheAnti­FencingLawof1979

(PresidentialDecreeNo.1612)whicheverimposesthelongerprisontermaspenaltyfortheconsummatedoffense.

Section14.Presumptionandprimafacieevidenceofintenttodefraud.–Themerepossession,controlor

custodyof:

(a)anaccessdevice,withoutpermissionoftheownerorwithoutanylawfulauthority;

(b)acounterfeitaccessdevice;

(c)accessdevicefraudulentlyappliedfor;

(d)anydevice­makingoralteringequipmentbyanypersonwhosebusinessoremploymentdoesnotlawfully

dealwiththemanufacture,issuance,ordistributionofaccessdevice;

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(e) an access device or medium on which an access device is written, not in the ordinary course of the possessor'stradeorbusiness;or

(f)agenuineaccessdevice,notinthenameofthepossessor,ornotintheordinarycourseofthepossessor's

tradeorbusiness,shallbeprimafacieevidencethatsuchdeviceorequipmentisintendedtobeusedto

defraud.

Acardholderwhoabandonsorsurreptitiouslyleavestheplaceofemployment,businessorresidencestatedinhis applicationorcreditcard,withoutinformingthecreditcardcompanyoftheplacewherehecouldactuallybefound,if atthetimeofsuchabandonmentorsurreptitiousleaving,theoutstandingandunpaidbalanceispastdueforatleast

ninety(90)daysandismorethanTenthousandpesos(P10,000.00),shallbeprimafaciepresumedtohaveused

hiscreditcardwithintenttodefraud.

Section15.Lossofaccessdevices.–Incaseoflossofanaccessdevice,theholderthereofmustnotifythe

issuer of the access device of the details and circumstances of such loss upon knowledge of the loss. Full compliancewithsuchprocedurewouldabsolvetheaccessdeviceholderofanyfinancialliabilityfromfraudulentuse oftheaccessdevicefromthetimethelossortheftisreportedtotheissuer.

Section 16. Reporting requirements. – All companies engaged in the business of issuing access devices, includingbanks,financingcompaniesandotherfinancialinstitutionsissuingaccessdevices,shallfurnishannually,

onorbeforethe31stofMarchofthesucceedingyear,areporttotheCreditCardAssociationofthePhilippines

regardingaccessdevicefraudscommittedagainsttheholdersofsuchentitiesintheprecedingcalendaryear,for

consolidationandsubmissiontotheNationalBureauofInvestigation.

Notwithstanding this requirement, banks, financing companies and other financial institutions, including their subsidiariesandaffiliates,issuingaccessdevicesshallcontinuetoberegulatedandsupervisedbytheBangko SentralngPilipinaswhileothercompaniesissuingaccessdevicesshallcontinuetoberegulatedandsupervisedby theSecuritiesandExchangeCommission.

Section 17. Liability under the Revised Penal Code and other laws. – Prosecution under this Act shall be withoutprejudicetoanyliabilityforviolationofanyprovisionoftheRevisedPenalCodeoranyotherlaw.

Section18.Separabilityclause.–IfanyseparableprovisionofthisActbedeclaredunconstitutional,theremaining

provisionsshallcontinuetobeinforce.

Section19.Repealingclause.–Anylaw,presidentialdecreeorissuance,executiveorder,letterofinstruction,

administrativeorder,ruleorregulationcontraryto,orinconsistentwith,theprovisionsofthisActisherebyrepealed,

modifiedoramendedaccordingly.

Section20.Effectivityclause.–ThisActshalltakeeffectfifteen(15)daysafteritspublicationinatleasttwo(2)

newspapersofgeneralcirculation.

Approved:February11,1998

TheLawphilProject­ArellanoLawFoundation

February11,1998 TheLawphilProject­ArellanoLawFoundation