BSP advises the public and reminds banks on the prohibition against unsolicited text messages

The BSP issued an advisory to the public to inform them of the appropriate action to take if unsolicited text messages about bank advertisement, loan offer or marketing are received.

Earlier, the BSP issued a memorandum to all banks and its subsidiaries/affiliates reminding them of their compliance with the law/rules prohibiting unsolicited text messages.

The Cybercrime Prevention Act or R.A. No. 10175 criminalizes the transmission of commercial electronic communication with the use of computer system which seeks to advertise, sell or offer for sale products and services unless there is prior affirmative consent from the recipient.

The National Telecommunication (NTC) through its Memorandum Circulars likewise prohibits public telecommunication (PTEs) and content and/or information service providers (CPs) from sending and/or initiating push or unsolicited text messages, unless there is a written consent from the subscriber choosing to receive commercial advertisements through text.

The issuance of the said the advisory to the public and memorandum to banks is in view of the complaints and inquiries received by the BSP involving unsolicited text messages on bank advertisements, loan offer or marketing. (BSP)