The Supreme Court has ruled that BANKS are considered SERVICE PROVIDER under the CYBERCRIME PREVENTION ACT, so they can release certain ACCOUNT INFORMATION upon court order.
In a decision dated JULY 29, the SC denied EASTWEST RURAL BANK's request to quash the order to provide COMPUTER DATA in connection with a PHISHING CASE.
The case began when the victim lost P10,000 after being tricked by a caller who pretended to be a bank employee. The money was transferred to an EASTWEST ACCOUNT using the obtained OTP and email access.
The bank insisted that the information was prohibited from being released due to the BANK SECRECY LAW, but the SC said that it does not block the release of IDENTIFYING INFORMATION if there is a COURT-ISSUED WARRANT.
The SC clarified that DEPOSITS and detailed money movements remain protected, but allows limited disclosure of information for CYBERCRIME INVESTIGATION once the legal process is complete.
