GCash, the fintech arm of Globe Telecom, said Wednesday it has a “zero tolerance” policy for illegal gambling operators and other fraudulent groups using its platform.
GCash said in a statement it had no links to illegal gambling operators and that any site or group claiming otherwise was either misrepresenting the firm or illegally using the platform.
“Illegal online gambling undermines financial integrity and public welfare,” said Oscar Enrico Reyes Jr., president and chief executive of G-Xchange, Inc. (GXI), the operator of GCash.
“We are working hand-in-hand with regulators and law enforcement to shut down illicit activity and protect our users,” Reyes said.
GCash has recently removed access to in-app gaming to comply with an order from the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, to suspend in-app gaming access in all BSP-supervised institutions.
GCash said it takes immediate action against illegal activities, including blocking and suspending accounts involved in unlawful transactions and prohibiting the misuse of payment QR codes.
The company said it also works with the BSP, the Anti-Money Laundering Council (AMLC), and law enforcement agencies to identify and report illicit activity.
Since 2023, GCash said it has taken down over 57,000 phishing sites and reported 916 illegal online gaming sites to authorities.
“GCash is committed to ensuring that Filipinos can transact with confidence and peace of mind,” the company said.
“We will continue to strengthen our security systems and work closely with regulators and law enforcement to keep our platform safe,” it said.
