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Showing posts with label BSP. Show all posts
Showing posts with label BSP. Show all posts

Thursday, February 02, 2017

DFA SECRETARY YASAY VOWS TO ADDRESS ANOMALY IN PASSPORT PRINTING

Foreign Affairs Secretary Perfecto Yasay Jr, vowed to pursue the alleged passport printing anomaly and bring it immediately to President Duterte's attention for appropriate action.  DFA SECRETARY YASAY VOWS TO ADDRESS ANOMALY IN PASSPORT PRINTING         “During the previous administration, the printing of our e-passports was transferred from the BSP to a government controlled agency known as APO that did not have the capability, the equipment or expertise to print this passport,” Yasay said. This clearly explain why the e-passports are taking a very unreasonable time to be printed. They gave the job to the wrong people. The Secretary said that he had attempted to stop the anomaly by urging the Bangko Sentral Ng Pilipinas (BSP) to take the job back  but, to his surprise, the BSP refused to do so.          Last year, a graft case has been filed by the Anti-Trapo Movement (ATM), an anti corruption watchdog, against the two former DFA Secretaries Alberto Romulo and Albert del Rosario, together with other DFA  and BSP personnels who served under the two previous administrations. Romulo was Foreign Affairs Secretary from August 2005 to February 2011 while Del Rosario held the post from February 2011 to March 2016.  In a statement by the ATM, they said that,   “The Department of Foreign Affairs and the Bangko Sentral ng Pilipinas be made to explain why a total of P1.625 Billion of sparse and limited taxpayers' money has been spent by the DFA/BSP on the E-Passport project since early 2011, when the Machine Readable Passport/Visa (MRP/V) Project would have entailed absolutely no cost in terms of taxpayers' money.”    The group said that the supposed e-passport production anomalies continued under former DFA Secretary del Rosario, awarding the  negotiated contract  to APO Production Unit, which has no track record on printing security documents such as the Philippine Passport, and said to be using an outdated  and cheap printing equipments.   Yasay said he already informed President Duterte about the matter--his plans and actions.  “First and foremost, I would like that private entity to be liable to us. Once an agreement is signed to this effect, then I can sit down with them and deal with these specific problems that we are now facing and if it cannot be fixed at least I have a recourse against them,” he said.

Foreign Affairs Secretary Perfecto Yasay Jr, vowed to pursue the alleged passport printing anomaly and bring it immediately to President Duterte's attention for appropriate action.

Foreign Affairs Secretary Perfecto Yasay Jr, vowed to pursue the alleged passport printing anomaly and bring it immediately to President Duterte's attention for appropriate action.  DFA SECRETARY YASAY VOWS TO ADDRESS ANOMALY IN PASSPORT PRINTING         “During the previous administration, the printing of our e-passports was transferred from the BSP to a government controlled agency known as APO that did not have the capability, the equipment or expertise to print this passport,” Yasay said. This clearly explain why the e-passports are taking a very unreasonable time to be printed. They gave the job to the wrong people. The Secretary said that he had attempted to stop the anomaly by urging the Bangko Sentral Ng Pilipinas (BSP) to take the job back  but, to his surprise, the BSP refused to do so.          Last year, a graft case has been filed by the Anti-Trapo Movement (ATM), an anti corruption watchdog, against the two former DFA Secretaries Alberto Romulo and Albert del Rosario, together with other DFA  and BSP personnels who served under the two previous administrations. Romulo was Foreign Affairs Secretary from August 2005 to February 2011 while Del Rosario held the post from February 2011 to March 2016.  In a statement by the ATM, they said that,   “The Department of Foreign Affairs and the Bangko Sentral ng Pilipinas be made to explain why a total of P1.625 Billion of sparse and limited taxpayers' money has been spent by the DFA/BSP on the E-Passport project since early 2011, when the Machine Readable Passport/Visa (MRP/V) Project would have entailed absolutely no cost in terms of taxpayers' money.”    The group said that the supposed e-passport production anomalies continued under former DFA Secretary del Rosario, awarding the  negotiated contract  to APO Production Unit, which has no track record on printing security documents such as the Philippine Passport, and said to be using an outdated  and cheap printing equipments.   Yasay said he already informed President Duterte about the matter--his plans and actions.  “First and foremost, I would like that private entity to be liable to us. Once an agreement is signed to this effect, then I can sit down with them and deal with these specific problems that we are now facing and if it cannot be fixed at least I have a recourse against them,” he said.









“During the previous administration, the printing of our e-passports was transferred from the BSP to a government controlled agency known as APO that did not have the capability, the equipment or expertise to print this passport,” Yasay said.
This clearly explain why the e-passports are taking a very unreasonable time to be printed. They gave the job to the wrong people.
The Secretary said that he had attempted to stop the anomaly by urging the Bangko Sentral Ng Pilipinas (BSP) to take the job back  but, to his surprise, the BSP refused to do so.
Foreign Affairs Secretary Perfecto Yasay Jr, vowed to pursue the alleged passport printing anomaly and bring it immediately to President Duterte's attention for appropriate action.  DFA SECRETARY YASAY VOWS TO ADDRESS ANOMALY IN PASSPORT PRINTING         “During the previous administration, the printing of our e-passports was transferred from the BSP to a government controlled agency known as APO that did not have the capability, the equipment or expertise to print this passport,” Yasay said. This clearly explain why the e-passports are taking a very unreasonable time to be printed. They gave the job to the wrong people. The Secretary said that he had attempted to stop the anomaly by urging the Bangko Sentral Ng Pilipinas (BSP) to take the job back  but, to his surprise, the BSP refused to do so.          Last year, a graft case has been filed by the Anti-Trapo Movement (ATM), an anti corruption watchdog, against the two former DFA Secretaries Alberto Romulo and Albert del Rosario, together with other DFA  and BSP personnels who served under the two previous administrations. Romulo was Foreign Affairs Secretary from August 2005 to February 2011 while Del Rosario held the post from February 2011 to March 2016.  In a statement by the ATM, they said that,   “The Department of Foreign Affairs and the Bangko Sentral ng Pilipinas be made to explain why a total of P1.625 Billion of sparse and limited taxpayers' money has been spent by the DFA/BSP on the E-Passport project since early 2011, when the Machine Readable Passport/Visa (MRP/V) Project would have entailed absolutely no cost in terms of taxpayers' money.”    The group said that the supposed e-passport production anomalies continued under former DFA Secretary del Rosario, awarding the  negotiated contract  to APO Production Unit, which has no track record on printing security documents such as the Philippine Passport, and said to be using an outdated  and cheap printing equipments.   Yasay said he already informed President Duterte about the matter--his plans and actions.  “First and foremost, I would like that private entity to be liable to us. Once an agreement is signed to this effect, then I can sit down with them and deal with these specific problems that we are now facing and if it cannot be fixed at least I have a recourse against them,” he said.











Last year, a graft case has been filed by the Anti-Trapo Movement (ATM), an anti corruption watchdog, against the two former DFA Secretaries Alberto Romulo and Albert del Rosario, together with other DFA  and BSP personnels who served under the two previous administrations.
Romulo was Foreign Affairs Secretary from August 2005 to February 2011 while Del Rosario held the post from February 2011 to March 2016. 
In a statement by the ATM, they said that,

 “The Department of Foreign Affairs and the Bangko Sentral ng Pilipinas be made to explain why a total of P1.625 Billion of sparse and limited taxpayers' money has been spent by the DFA/BSP on the E-Passport project since early 2011, when the Machine Readable Passport/Visa (MRP/V) Project would have entailed absolutely no cost in terms of taxpayers' money.” 
The group said that the supposed e-passport production anomalies continued under former DFA Secretary del Rosario, awarding the  negotiated contract  to APO Production Unit, which has no track record on printing security documents such as the Philippine Passport, and said to be using an outdated  and cheap printing equipments.


Yasay said he already informed President Duterte about the matter--his plans and actions.


“First and foremost, I would like that private entity to be liable to us. Once an agreement is signed to this effect, then I can sit down with them and deal with these specific problems that we are now facing and if it cannot be fixed at least I have a recourse against them,” he said.


©2017 THOUGHTSKOTO

Tuesday, January 03, 2017

DOES YOUR ATM IN THE PHILIPPINES HAS EMV CHIP OR THOSE WITH MAGNETIC STRIP? YOU NEED TO KNOW.

EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan.
According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme.
"Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added.
As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it.
BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.



The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.



Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.




Some hearsay about demonetization and the new bank notes.
They are absolutely false!
These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.

EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.


EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.


EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



EMV cards is said to be more secured compared to the magnetic strips that are widely used in ATM cards and some credit cards. ATM card scheming and card fraud has long been a problem for banks and cardholders. To get rid of it, the Bangko Sentral ng Pilipinas , in 2013, has issued a directive to the banks in the Philippines to replace the magnetic strips on the ATM and credit cards they are issuing with EMV (Europay, Mastercard, Visa) chips, which is  according to the Head of BSP Core IT Specialist Group, Melchor Plabasan. According to Mr. Plabasan, the EMV chip embedded in the card is more secured and is, according to him, virtually impossible to be copied or scheme. "Every time the chip is used in the (ATM) terminal, it automatically sends a dynamic code," Plabasan added. As of this report, the banks are in a huge backlog about the BSP deadline. Out of 8.5 million credit cards and 76 million ATM debit and prepaid cards that has to be replaced, they only made replacement on roughly 50%  of it. BSP said that the public can still use the old cards with magnetic strips and there is no need to panic about the January 1, 2017 deadline. However, most of the ATM machines or terminals are already been upgraded to accommodate cards bearing EMV chips in it and no longer accept cards with magnetic strips.   The BSP has issued a warning to the banks who are still not being able to replace the cards with EMV embedded cards, should any fraud or scheming arise and there had been an unauthorized transaction, the bank will be held accountable and pay the lost or damages if the client submits a proper report.    Meanwhile, the BSP is reminding all old notes holder that the  old bank notes has already been demonetized since Dec. 31, 2016. But the OFWs who are not in the country can still be exchanged until 2017 but they need to be  registered online.  Read the details here:    Some hearsay about demonetization and the new bank notes. They are absolutely false! These hearsay has been falsified by  BSP Regional Director Leonides Sumbi.                   Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017.  As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.   Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it.



Only the new design series paper bills issued since 1985 until 2010 will not be accepted by January 1, 2017. 
As long as the paper bill is a new generation cureency series, the one that was released since December 2010, the signature of the previous or current President should not matter.


Although BSP has ordered banks to replace ATM cards with EMV chip, this doesn't mean that ATM cards with magnetic strip will not be accepted anymore starting January 1, 2017 although some ATM terminals might not accept it like the cases mentioned in the GMA 7 report.

©2016 THOUGHTSKOTO

Thursday, December 15, 2016

NEW 100 PESO BILL BEARING THE SIGNATURE OF PRESIDENT DUTERTE TO BE RELEASED SOON--- BANGKO SENTRAL

The new P100 bill will be out very soon according to Bangko Sentral ng Pilipinas.  The new  one hundred peso bill will bear the signature of President Rodrigo Duterte. According to Deputy Director of BSP, Grace Malic, they are anticipating high public interest on the upcoming new bank note. "They do not need to rush because sooner or later there will be more bills that has President Duterte's signature that they can acquire, " she said. Meanwhile, the BSP is calling on the OFWs to  register their old bank notes , if ever they are keeping any of it. The Old notes will be demonetized after Dec 1, 2016. To register your bank notes that needed to be replaced , you can go to https://orbs.bsp.gov.ph/ORBS/.

The new P100 bill will be out very soon according to Bangko Sentral ng Pilipinas.
The new  one hundred peso bill will bear the signature of President Rodrigo Duterte.
According to Deputy Director of BSP, Grace Malic, they are anticipating high public interest on the upcoming new bank note. "They do not need to rush because sooner or later there will be more bills that has President Duterte's signature that they can acquire, " she said.
Meanwhile, the BSP is calling on the OFWs to  register their old bank notes , if ever they are keeping any of it.
The Old notes will be demonetized after Dec 1, 2016.
To register your bank notes that needed to be replaced , you can go to https://orbs.bsp.gov.ph/ORBS/.
The new P100 bill will be out very soon according to Bangko Sentral ng Pilipinas.  The new  one hundred peso bill will bear the signature of President Rodrigo Duterte. According to Deputy Director of BSP, Grace Malic, they are anticipating high public interest on the upcoming new bank note. "They do not need to rush because sooner or later there will be more bills that has President Duterte's signature that they can acquire, " she said. Meanwhile, the BSP is calling on the OFWs to  register their old bank notes , if ever they are keeping any of it. The Old notes will be demonetized after Dec 1, 2016. To register your bank notes that needed to be replaced , you can go to https://orbs.bsp.gov.ph/ORBS/.




The new P100 bill will be out very soon according to Bangko Sentral ng Pilipinas.  The new  one hundred peso bill will bear the signature of President Rodrigo Duterte. According to Deputy Director of BSP, Grace Malic, they are anticipating high public interest on the upcoming new bank note. "They do not need to rush because sooner or later there will be more bills that has President Duterte's signature that they can acquire, " she said. Meanwhile, the BSP is calling on the OFWs to  register their old bank notes , if ever they are keeping any of it. The Old notes will be demonetized after Dec 1, 2016. To register your bank notes that needed to be replaced , you can go to https://orbs.bsp.gov.ph/ORBS/.


©2016 THOUGHTSKOTO

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