President Ferdinand Marcos Jr. signed into law Republic Act (RA) 12009, the “New Government Procurement Act” (NGPA), and RA 12010, the “Anti-Financial Account Scamming Act” (AFASA) ahead of his State of the Nation Address.
The signing ceremony was held in Malacañang and attended by lawmakers and government officials.
The NGPA aims to enhance transparency, efficiency, and accountability in government procurement while reducing the action period from 90 to 60 days.
The AFASA targets financial cybercrimes, imposing stricter penalties and granting the Bangko Sentral ng Pilipinas (BSP) authority to investigate and collaborate with law enforcement.
These laws are part of the President’s legislative agenda to combat corruption and cybercrime.
Source: PhilNews24 | July 20, 2024
