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R.A. 8484

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RepublicofthePhilippines
CongressofthePhilippines
MetroManila
TenthCongress

RepublicActNo.8484February11,1998
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)CounterfeitAccessDevicemeansanyaccessdevicethatiscounterfeit,fictitious,altered,orforged,or
anidentifiablecomponentofanaccessdeviceorcounterfeitaccessdevice
(c)UnauthorizedAccessDevicemeansanyaccessdevicethatisstolen,lost,expired,revoked,canceled,
suspended,orobtainedwithintenttodefraud
(d) Access Device Fraudulently Applied for means any access device that was applied for or issued on
accountoftheuseoffalsifieddocument,falseinformation,fictitiousidentitiesandaddresses,oranyformof
falsepretenseormisrepresentation
(e)Consumermeansanaturalperson
(f) Credit Card means any card, plate, coupon book, or other credit device existing for the purpose of
obtainingmoney,goods,property,labororservicesoranythingofvalueoncredit
(g) Device Making or Altering Equipment means any equipment, mechanism or impression designed or
primarilyusedformakingoralteringorreencodinganaccessdeviceoracounterfeitaccessdevice
(h)FinanceChargesrepresenttheamounttobepaidbythedebtorincidenttotheextensionofcreditsuch
asinterestordiscounts,collectionfees,creditinvestigationfees,andotherservicecharges
(i)Openendcreditplanmeansaconsumercreditextendedonanaccountpursuanttoaplanunderwhich:
1)thecreditormaypermitthepersontomakepurchaseorobtainloans,fromtimetotime,directlyfrom
thecreditororindirectlybyuseofcreditcard,orotherservice
2)thepersonhastheprivilegeofpayingthebalanceor
3) a finance charge may be computed by the creditor from time to time on an unpaid balance.(j)
PenaltyChargesmeanssuchamount,inadditiontointerest,imposedonthecreditcardholderfor
nonpaymentofanaccountwithinaprescribedperiod
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(k)Produceincludesdesign,alter,authenticate,duplicateorassembleand
(l)Traffickingmeanstransferring,orotherwisedisposingof,toanother,orobtainingcontrolof,withintentto
transferordisposeof.
Section 4. Credit Card Application and Solicitation. Any application to open a credit card account for any
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)BalanceCalculationMethodthenameoradetailedexplanationofthebalancecalculationmethodused
indeterminingthebalanceuponwhichthefinancechargeiscomputed.
(d)CashAdvanceFeeanyfeeimposedforanextensionofcreditintheformofcash.
(e)OvertheLimitFeeanyfeeimposedinconnectionwithanextensionofcreditinexcessoftheamountof
credit authorized to be extended with respect to such amount: Provided, however, That in case the
application or solicitation to open a credit card account for any person under an openend consumer credit
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)Thedatetheapplicationorsolicitationwasprintedand
(3) In a conspicuous and prominent location on the application or solicitation, a toll free telephone
number or mailing address which the applicant may contact to obtain any change in the information
providedintheapplicationorsolicitationsinceitwasprinted.
Section5.Computations.Inadditiontotheforegoing,acreditcardissuermust,totheextentpracticable,provide
adetailedexplanationandaclearillustrationofthemannerbywhichallchargesandfeesarecomputed.
Section 6. Exceptions. The disclosures required under Section 4 of this Act may be omitted in any telephone
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,butinnoeventlaterthanthedateofdeliveryofthecardand
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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.
Section 7. Disclosure Prior to Renewal. Except in telephone solicitations a card issuer that imposes any fee
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
accountand
(d) the method by which the consumer may terminate continued credit availability under the account:
Provided, That the disclosures required by this section must be made prior to posting a fee described in
Section 4 (b) (1) to the account, or with the periodic billing statement first disclosing that the fee has been
posted to the account subject to the condition that the consumer is given thirty (30) day period to avoid
payment of the fee or to have the fee recredited to the account in any case where the consumer does not
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) making any alteration, without the access device holder's authority, of any amount or other information
writtenonthesalesslip
(n) effecting transaction, with one or more access devices issued to another person or persons, to receive
paymentoranyotherthingofvalue
(o)withouttheauthorizationoftheissueroftheaccessdevice,solicitingapersonforthepurposeof:
1)offeringanaccessdeviceor
2)sellinginformationregardingoranapplicationtoobtainanaccessdeviceor
(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
for not less than ten (10) years and for not more than twelve (12) years, in the case of an offense under
Section 9 (a), and (f) of the foregoing section, which does not occur after a conviction for another offense
underSection9and
(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
have been fraudulently applied for, shall be considered as an accessory to an access device fraud and shall be
punishedwithonehalf(1/2)ofthefineandimprisonmentprovidedfortheapplicableconsummatedoffenseslisted
in Section 9 of this Act. Said person shall be prosecuted under this Act or under the AntiFencing Law of 1979
(PresidentialDecreeNo.1612)whicheverimposesthelongerprisontermaspenaltyfortheconsummatedoffense.
Section 14. Presumption and prima facie evidence of intent to defraud. The mere possession, control or
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'stradeorbusinessor
(f)agenuineaccessdevice,notinthenameofthepossessor,ornotintheordinarycourseofthepossessor's
trade or business, shall be prima facie evidence that such device or equipment is intended to be used to
defraud.
Acardholderwhoabandonsorsurreptitiouslyleavestheplaceofemployment,businessorresidencestatedinhis
applicationorcreditcard,withoutinformingthecreditcardcompanyoftheplacewherehecouldactuallybefound,if
atthetimeofsuchabandonmentorsurreptitiousleaving,theoutstandingandunpaidbalanceispastdueforatleast
ninety(90)daysandismorethanTenthousandpesos(P10,000.00),shallbeprimafaciepresumedtohaveused
hiscreditcardwithintenttodefraud.
Section 15. Loss of access devices. In case of loss of an access device, the holder thereof must notify the
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,
on or before the 31st of March of the succeeding year, a report to the Credit Card Association of the Philippines
regardingaccessdevicefraudscommittedagainsttheholdersofsuchentitiesintheprecedingcalendaryear,for
consolidationandsubmissiontotheNationalBureauofInvestigation.
Notwithstanding this requirement, banks, financing companies and other financial institutions, including their
subsidiaries and affiliates, issuing access devices shall continue to be regulated and supervised by the Bangko
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.
Section 19. Repealingclause. Any law, presidential decree or issuance, executive order, letter of instruction,
administrativeorder,ruleorregulationcontraryto,orinconsistentwith,theprovisionsofthisActisherebyrepealed,
modifiedoramendedaccordingly.
Section20.Effectivityclause.ThisActshalltakeeffectfifteen(15)daysafteritspublicationinatleasttwo(2)
newspapersofgeneralcirculation.
Approved:February11,1998
TheLawphilProjectArellanoLawFoundation

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