THE House Committee on Senior Citizens on Tuesday convened a hearing, in aid of legislation, to assess government efforts to protect senior citizens from fraud and other forms of abuse.
Committee Chairperson and United Senior Citizens Partylist Rep. Milagros Aquino-Magsaysay said the hearing reflects the House of Representatives’ duty to safeguard the welfare of the elderly and ensure accountability for individuals and groups who exploit their vulnerabilities.
“It is incumbent upon this House to fortify the safeguards that protect the vulnerable and to deter and dismantle schemes devised by those who seek to prey upon senior citizens, our nation’s esteemed elders,” Aquino-Magsaysay said.
She took note of reported cases involving large sums allegedly withdrawn from seniors’ bank accounts in a short period of time, as well as the scale of victimization nationwide.
“We wish to unravel and bring into light the very modus operandi of this scam, specifically how in a very short period of time, almost a million pesos was taken from our senior citizen’s various accounts,” she said.
Bangko Sentral ng Pilipinas (BSP) Deputy Director for Consumer Complaints Atty. Carlos Manuel Prado confirmed that senior citizens are among the groups most vulnerable to fraud. He added that, for the BSP, fraud protection requires a whole-of-government approach.
Aquino-Magsaysay said the Committee will look into the actions taken by financial institutions and law enforcement agencies, the effectiveness of existing safety nets, and policy gaps, and propose legislative measures to close these gaps.
The Committee in the same meeting approved the committee report on the unnumbered substitute bill granting a universal social pension to senior citizens.
The panel adopted the report on the substitute measure consolidating House Bills 155, 182, 323, 427, 844, 1296, 1404, 1421, 1601, 1999, 2048, 2303, 2370, 2376, 2691, 3591, 3901, 3981, 4112, 4181, 4398, 4512, 4617, 4996, 5068, 5427, 5866, 5962, 6247, 6410 and 6471, seeking to amend Republic Act 7432, or the “Senior Citizens Act,” as amended, to grant a universal social pension to senior citizens.
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