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Wednesday, November 29, 2023

GCash blocked over 900,000 fraudsters in Q1

GCash, the country’s leading mobile wallet, said Tuesday it blocked more than 900,000 users suspected of fraud in the first quarter through joint efforts with authorities as it ramps up app security and fraud management to better protect customers.

GCash said it is working with the National Bureau of Investigation and the Philippine National Police in its crackdown against fraudsters to fight online scam.

“GCash has been providing invaluable service to Filipinos, especially during the pandemic. It is crucial that we work together to protect the platform against fraud. As we continue to bolster our security system, we are also counting on the support of our customers and ask that they be vigilant against online scam,” GCash president and chief executive Martha Sazon said.

GCash also encourages users to report fraud through Chat with Gigi, the newest beta chatbot. Reported fake pages are taken down within 24 hours.

GCash said to make sure that cybercriminals are monitored, caught and apprehended, it also works closely with the National Bureau of Investigation-Cybercrime Division and the Philippine National Police Anti-Cybercrime Group in preventing scams and other illegal activities and apprehending any guilty parties.

It also ensures strict compliance with the guidance of the Bangko Sentral ng Pilipinas and the Anti-Money Laundering Council to ensure the safety and security of customers.

Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 1,300 partner billers; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 4.5 million partner merchants and social sellers; cash-in and cash-out at over 170,000 partner agents.

GCash was recognized by The Asian Banker and by the IDC in 2021 for its outstanding digital financial inclusion programs impacting more than 55 million Filipinos in the country today.

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