Market News - AntiPiracy

Group urged Senate to pass anti-online piracy bill

A consumer advocacy group, Bantay Konsyumer, Kalsada, Kuryente (BK3), has urged the Philippine Senate to expedite the passage of pending anti-online piracy legislation, emphasizing its urgency in the face of evolving technology. BK3’s convenor, Atty. Karry Sison, expressed concern over the prolonged delay of Senate Bill Nos. 2150 and 238, which aim to amend the Intellectual Property Code of the Philippines to better protect artists, creators, and consumers from deceptive and illegal online operations. Stakeholders in the creative industry have been advocating for these measures due to ongoing intellectual property rights infringements that have resulted in significant losses in industry income and government revenues. The Intellectual Property Office of the Philippines reported a loss of $781 million in 2022 due to online piracy, with projections indicating potential losses could reach $1 billion if unaddressed. Beyond financial implications, BK3 highlighted digital security threats associated with online piracy, such as malware, phishing, and other cyberattacks that jeopardize personal information. The group stresses that the issue extends beyond the creative sector, posing serious risks to the digital security of Filipino consumers.

View the original full article here: https://www.gmanetwork.com/news/topstories/nation/938102/group-urged-senate-to-pass-anti-online-piracy-bill/story/

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