No one is a stranger to random numbers sending out text messages offering different promos, services, and even job openings. While financial institutions like e-wallets help ensure their security measures remain top-notch, it is equally important for users to stay vigilant against scammers.
Through its intensified security campaign, GSafeTayo, GCash is calling on its customers to be more proactive in safeguarding their accounts.
"At GCash, we are constantly upgrading our security measures against scams directed at our users," Miguel Geronilla, GCash Head of Fraud Management. "But more than just improving the current features, we are also developing new ways to keep our over 81 million users safe."
To help keep individuals from falling prey to different scams, GCash has been constantly reminding its users about the following practices:
Do not open unfamiliar links
Scammers often send messages with links, luring recipients with enticing "prizes" or a chance at a high-paying position. To counter this, GCash has stopped sending links via SMS, emails, and other messaging apps. See a link? Do not click it.
Never share personal information
It is common practice for scammers to call individuals and pose as GCash representatives to gather personal user information. GCash will never ask its customers for MPINs and OTPs and will only reach out to customers through official channels.
Double-check before buying
Fake online sellers and shops offer too-good-to-be-true deals to lure individuals into purchasing their products. GCash recommends double-checking online offers, as well as checking reviews to ensure authenticity.
"With the increase of online fraudulent activity targeted at day-to-day individuals, we at GCash understand the need to continue improving on our security features," says Geronilla. "Together with our users, we can ensure that GSafeTayo."
GCash has been introducing various security measures to proactively counter the various schemes of fraudsters. It has migrated transaction confirmation messages to the app inbox and masked the recipient's name when sending money to protect users' data. On top of these, GCash has also introducing a security feature–DoubleSafe.
DoubleSafe
GCash adds a security feature to help safeguard its users from account takeovers.
DoubleSafe strengthens the security of GCash's 81 million users as it helps prevent unauthorized account access. Before DoubleSafe, GCash already required two levels of authentication or 2-Factor Authentication. The first level of security is the OTP (One-time PIN), a unique number combination sent only to the user's mobile number. The second level of authentication is the MPIN (Mobile PIN) which is a 4-digit passcode that only the customer or GCash owner should know.
Starting March 2023, GCash has been requiring all users to activate DoubleSafe in order to help add an additional layer of security to their account.
This feature will be activated for every first login to a new mobile phone to help ensure the continued protection of its users. The feature uses facial recognition, which means that even if a user inadvertently shares their MPIN and OTP to fraudsters, their account cannot be accessed from another device without scanning the owner's face – ultimately helping prevent account takeovers.
Beyond this security feature, GCash is also closely working with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) in going after fraudsters and scammers. This was formalized by the signing of a memorandum of agreement with PNP-ACG in 2022.
"GCash is one with the PNP-ACG in making sure that these cybercriminals are put behind bars while reminding the public on how to safeguard their accounts," says Geronilla. "Together with the authorities, other relevant government agencies and our users, we can ensure that GSafeTayo."
Along with the launch of Doublesafe, GCash has been intensifying its GSafeTayo campaign through a series of awareness and education materials that will help customers identify and avoid fake sellers, suspicious links, as well as other common forms of scams.
Through the campaign, customers are equipped to join the fight, together with GCash, for true account security.
To report scams and other suspicious activities, users can go to the GCash Help Center on the GCash app or at https://help.gcash.com/hc/en-u, talk to Gigi, and choose "I want to report a scam."
Through GCash's efforts to protect its users' hard-earned money and the collective cooperation of its customers and partners, we can make sure that with GCash, #GSafeTayo.
NOTE: BrandNews articles are promotional features from our sponsors and not news articles from our editorial staff.