Aug 232014
 
Gov’t warns US retailers against hacking software

WASHINGTON (AP) – More than 1,000 US retailers could be infected with malicious software lurking in their cash register computers, allowing hackers to steal customer financial data, the Homeland Security Department said Friday. The government urged businesses of all sizes to scan their point-of-sale systems for software known as “Backoff,” discovered last October. It previously explained in detail how the software operates and how retailers could find and remove it. Earlier this month, United Parcel Service said it found infected computers in 51 stores. UPS said it was not aware of any fraud that resulted from the infection but said hackers may have taken customers’ names, addresses, email addresses and payment card information. The company apologized to customers and offered free identity protection and credit monitoring services to those who had shopped in those 51 stores. Backoff was discovered in October, but according to the Homeland Security Department the software wasn’t flagged by antivirus programs until this month. Jerome Segura, a senior security researcher at cybersecurity software firm Malware Bytes, said that the way that Backoff works is not unique. The program gains access to companies’ computers by finding insufficiently protected remote access points and duping computer users to download malware, tricks that have long been in use and are often automated. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 What has changed, Segura said, is that the hackers deploying it have become increasingly sophisticated about identifying high-value computer systems after they’ve broken into them. “Once the bad guys Read More …

Aug 232014
 
BPI Family eyes P5B from Phl’s first auto loan securitization

MANILA, Philippines – BPI Family Savings Bank plans to securitize P5 billion worth of car-buyer loans to broaden its financing channels and support the growing demand from the automotive market. The planned transaction will mark the Philippines’ first auto loan securitization. Under the plan, BPI Family will be selling a portfolio of auto loans to a newly-created bankruptcy remote Special Purpose Trust (SPT). Ownership of the portfolio will be transferred to the books of the issuer via a true sale. BPI Family, however, will remain the servicer of the said portfolio. To fund the purchase of the acquisition of the portfolio, the SPT will issue senior and junior bonds which will be secured by the underlying auto loans in the portfolio. By securitizing its auto loans, BPI Family will take the loans off its balance sheets and free up funds to continue lending. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The planned issuance was assigned a conditional issue credit rating of PRS Aaa by the Philippine Rating Services Corp. Obligations rated PRS Aaa are defined as having “the highest quality with minimal credit risk.” This means the obligor’s capacity to meet its financial commitment on the obligation is very strong.  Based on latest data released by the automotive industry, a total of 129,687 vehicles were sold from January to July this year, up  26 percent or from a year earlier. July posted the highest vehicle sales in a single month to date, in which 20,730 units or 32 Read More …

Aug 232014
 
Jerramy Joson claims being threatened over graft case against Usec Baraan

Jerramy Joson, who holds the notebook which allegedly lists those who received bribes in relation to the Ampatuan Massacre, claims she was threatened by two men who introduced themselves as Nationa Bureau of Investigation agents, GMA 7’s “24-Oras” program reported Saturday. According to Joson, the two supposed NBI agents came to their home and spoke with her mother last Wednesday. “Tapos, sinabi niya sa parents ko, iurong daw ‘yung kaso ko kay (Justice Department Undersecretary Francisco) Baraan, kasi, aanuhin daw niya ako ng kaso,” Joson said. She added that the men allegedly called Baraan and put him on loud speaker. The report said the incident was caught on the CCTV camera of Joson’s store around 2 p.m. Joson earlier filed a graft and corruption case against Baraan who she claimed asked for a bribe in exchange for a favorable decision in a separate carnapping case she filed. Baraan has denied the allegations. The name “Baraan” is also listed in the notebook held by Joson. The notebook is said to be originally owned by the wife of Atty. Arnel Manaloto, a former Ampatuan lawyer. Meanwhile, NBI Anti-Graft Division Chief Atty. Rachel Marfil-Angeles said the notebook would be subjected to further forensic examinations. “Ang notebook na yan isa sa mga key sa iniimbistigahan namin dahil nakalagay diyan ‘yung mga pangalan at what appears to be amounts given to certain people,” Marfil-Angeles said. Joson, meanwhile, will visit the NBI next week to give a more detailed testimony. — Andrei Medina/DVM, GMA News

Aug 232014
 
Trillanes, Tatad trade barbs over VP Binay at press forum

Senator Antonio Trillanes IV and former senator Kit Tatad exchanged heated words during a forum on Saturday over Vice President Jejomar Binay’s plans to run for president and the allegedly-overpriced Makati City Hall Building 2. “Ang sa aking paniniwala, ang Binay presidency would be so much worse than an Arroyo presidency,” Trillanes, who was detained during the Arroyo administration for participating in mutinies against the government, told GMA’s “24 Oras” after the forum. He asserted during the forum that Binay’s overpriced projects — including the building — may exceed the P10-billion pork barrel scam. “Dun sa pork barrel scam, ang mga naakusahang senador ay daang-daang milyon ang naakusa sa kanila, and a lot of people already found it scandalous. Pero dito po, dalawang bilyon po ang involved, and it involves the vice president of the republic,” Trillanes said. Tatad, a known supporter of the vice president, replied that the Senate lost “the moral authority to investigate anyone” after their involvement in the pork barrel scam. “Imbestigahan muna nila ang sarili nila,” Tatad, who was a senator during the presidency of Joseph Ejercito Estrada and minister of public information under President Ferdinand Marcos, retorted. He said that the Senate has yet to regain the public trust over allegations that senator-judges were bribed with funds from the Disbursement Acceleration Program to convict impeached Chief Justice Renato Corona. Trillanes, who is part of a Senate sub-committee investigating the alleged overpricing, replied: “It’s very unfortunate kung sa panahon ni Kit Tatad, with all due Read More …

Aug 232014
 
Passage of bill lowering income tax rates by 2016? Possible, Belmonte says

Speaker Feliciano Belmonte Jr. delivers his speech at the opening of the Second Regular Session of the House of Representatives at the Batasang Pambansa Bldg. in Quezon City on Monday morning (July 28, 2014). (MNS photo) MANILA (Mabuhay) – As calls for the government to cut income tax rates gain ground, Speaker Feliciano Belmonte Jr. on Tuesday raised the possibility of the House of Representatives passing a legislation lowering income tax rates by 2016. In a text message, Belmonte said the House is currently studying proposals to adjust income tax brackets since “inflation greatly affected the rates.” When asked if it’s possible for the lower chamber to approve a bill reducing tax rates during the 16th Congress, Belmonte said: “If there’s already a draft prepared by a qualified body, baka puede.” At least three bills seeking to lower individual tax rates by as much as 15 percent have been filed at the House. The House ways and means committee chaired by Marikina City Rep. Romero Quimbo is set to begin deliberations on these proposals next week. The Philippines has the highest income tax rate among Southeast Asian countries at 32 percent. Quimbo expressed confidence that the House will be able to approve a measure reducing income tax rates during the 16th Congress. “I am very optimistic it will pass under my watch as chair… I am an author myself of a bill [to] comprehensively review and lower tax incidence,” he said in a separate text message. Majority Leader Rep. Neptali Read More …

Aug 232014
 
Philippines to repatriate UN troops in Golan, Liberia

The Philippines said Saturday it will repatriate over 400 of its troops serving as UN peacekeepers in the Golan Heights and Liberia amid security threats and concerns over the Ebola virus. “To ensure the safety and security of the Philippine military troops deployed to conflict-affected areas, the country’s contingents in the Golan Heights and Liberia are scheduled to be repatriated within the year,” a Defence Department statement said. “The 331-strong Filipino contingent serving as part of the United Nations Disengagement Force (UNDOF) in the Golan Heights will be repatriated at the end of their tour of duty in October,” the statement said. Meanwhile, about 115 Filipinos serving in Liberia would be repatriated “as soon as possible,” due to the health risk posed by the Ebola virus outbreak in Africa, the statement added. “The Philippines prioritizes the safety and security of its troops, but remains committed to the peacekeeping missions of the United Nations,” the statement said. Defence Department spokesman Peter Paul Galvez said the Philippines would not send back its troops to the Golan Heights “unless the situation improves”. He expressed confidence the pullout would not hurt the country’s standing with the United Nations, recalling that Filipino troops had remained in the Golan Heights in 2013 even after Australian, Croatian and Japanese peacekeepers were withdrawn. “However the situation has become more volatile with increased security risk, hence the recommendation and subsequent approval for repatriation,” he said in a statement to AFP. Galvez also said that the Filipinos from Liberia would Read More …

Aug 232014
 
Drilon to PNoy: Time to choose between Procy, Kiko

Secretary Francis “Kiko” Pangilinan, Presidential Assistant for Food Security and Agricultural Modernization, shows the effect of the coco infestation “Aspidiotus Rigidus” to coconut trees at the sidelines of the launching of “Sama-samang Aksyon ng Gobyerno, Industriya at Pamayanan sa Malawakang Pagsugpo ng Pesteng Cocolisap” (SAGIP) program on Friday (June 20) at Barangay Potol, Tayabas, Quezon. (MNS photo) MANILA (Mabuhay) — Senate President Franklin Drilon urged President Aquino to review the leadership setup in the agriculture department, saying that having two secretaries at the helm does not help improve agriculture productivity. Functions at the agriculture department have been split between agriculture secretary Proceso Alcala and former senator Kiko Pangilinan who has been appointed as presidential assistant for food security and agricultural modernization. In the budget briefing with economic managers, Drilon pointed out that agriculture in the first quarter of the year grew only less than one percent. Saying that raids of warehouses are not enough, Drilon said that more should be done to help alleviate poverty and improve supply. One third of the labor force is in the agriculture sector. “Sa akin po, isa sa mga dapat tignan ng Pangulo kung sino talaga ng agriculture secretary dahil po nakita natin ang agriculture sector ay bumababa at paglago ng agriculture ay less than one percent. Apart from the usual calamities, I think there is also need for us to have a point man. Sino ba talaga? Kahit sa budget, magkaiba ‘yung secretary ng ibang ahensya sa agrikultura. They split the agencies in the Read More …

Aug 232014
 
Draft Bangsamoro Basic Law now in PNoy’s office

President Benigno S. Aquino III distributes vouchers for Scholarship Grants to beneficiaries during the Ceremonial Launch of Sajahatra Bangsamoro Program: Peace Dividends of the Framework Agreement on the Bangsamoro (FAB) at the Bangsamoro Leadership and Management Institute (BLMI) in Barangay Salimbao, Sultan Kudarat, Maguindanao on Monday (February 11, 2013). The strong partnership between the government (GPH) and the Moro Islamic Liberation Front (MILF) has become more evident as both sides work together in the process of identifying beneficiaries and their immediate needs that will be addressed by the Sajahatra Bangsamoro program. The FAB indicated that “the Parties agree to intensify development efforts for rehabilitation, reconstruction, and development of the Bangsamoro, and institute programs to address the needs of MILF combatants, internally displaced persons, and poverty-stricken communities.” In photo is MILF chairman Al Haj Murad Ebrahim. (Photo by: Ryan Lim / Malacañang Photo Bureau). MANILA (Mabuhay) – The draft Bangsamoro Basic Law has been submitted to President Benigno Aquino III’s office, deputy presidential spokesperson Undersecretary Abigail Valte said Thursday. In a text message, Valte said the Palace is just waiting for presidential peace adviser Teresita Deles’ statement on the matter. Deles just said the peace process is “on track,’” and that further details on the Bangsamoro bill will be issued on Friday. A separate report on the Moro Islamic Liberation Front website said the draft Bangsamoro bill was submitted to Aquino’s office on Wednesday night. MILF chief negotiator and Bangsamoro Transition Commission chairman Mohagher Iqbal reportedly signed the cover letter of Read More …

Aug 232014
 
DOJ completes draft amendment for new Criminal Code

President Benigno S. Aquino III graces the 8th East Asia Conference (EAC) on Competition Law and Policy at the Mindanao Ballroom, Sofitel Philippine Plaza in CCP Complex, Roxas Boulevard, Pasay City on Wednesday (August 28, 2013). EAC is an open event for key high-level officials of competition agencies in East Asia. EAC participants exchange ideas, views and experiences on emerging regional competition issues; and undertake to strengthen understanding and cooperation with regard to the implementation of competition policy and law across the region. In photo are Justice Secretary Leila de Lima and Japan Fair Trade Commission (JFTC) chairman Kazuyuki Sugimoto. (MNS photo) MANILA (Mabuhay) — The Department of Justice (DOJ) on Tuesday announced that the Criminal Code Committee (CCC) has completed Book 2 of the new Criminal Code on Crimes and Penalties after three years of drafting work. The CCC was established on April 20, 2011 to study, assess and consolidate a simple, updated and modern criminal law to provide clarity in law enforcement and to improve the administration of justice. This was geared towards increased access to justice especially for the marginalized sectors. “We responded to the call of the President (Benigno S. Aquino III) to undertake a codification project and for the first time in our history, we have a draft criminal code developed by justice stakeholders that is reflective of our societal norms,” Justice Secretary Leila M. De Lima said on Tuesday. “We shall now endorse the final product of both houses of Congress for their consideration Read More …