THE Bantay Konsyumer, Kalsada, Kuryente (BK3) group pressed the Senate to prioritize the passage of two bills designed to curb online piracy.

The group in a statement said these bills would help address internet scams.

The BK3 noted that there is a need to review and update existing laws in relation to these cases, specifically the law creating the Intellectual Property Code of the Philippines.

"We believe that the existing laws are no longer effective to protect the creations or inventions of Filipino inventors," BK3 said.

It lamented that online piracy continues, adversely affecting the creative industries in the country and resulting in revenue losses.

"Our lawmakers must act now and swiftly as there is a need to update this almost 30-year-old Intellectual Property Code," the group said.

"The creative industries are not just losing money but talent because some of them have started to leave and this might lead to the creative industry's demise," the group warned.

The Intellectual Property Office of the Philippines (IPOPHL) said earlier that due to online piracy, the country has lost $781 million in 2022 and if the problem remained unaddressed, the revenue loss would increase up to $1 billion.

Last month, Senator Mark Villar, head of the Committee on Trade, Commerce and Entrepreneurship, conducted a hearing on Senate Bills 2150 and 2385 which seek to amend the Intellectual Property code.

The passage of these bills would protect the creative industries and solve the issues on online piracy, the senator said.

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