GCash says working with authorities to apprehend fraudsters


Posted at Jan 21 2022 04:16 PM

MANILA - E-wallet operator GCash on Friday said it is committed to keep its platform secure after it assisted authorities in arresting fraudsters victimizing its customers.

GCash said it has worked closely with the agents of the National Bureau of Investigations and the PNP Anti-Cybercrime Group "to deliver an above-and-beyond customer experience and identify fraudsters abusing its platform."

"In cooperation with the elements of the NBI CCD, we were able to identify and apprehend these unscrupulous individuals who have been taking advantage of Filipinos through fraudulent methods, mainly through phishing and misrepresentation," GCash chief risk officer Ingrid Berona said.

"May this serve as a warning to other fraudsters: We do not tolerate the use of GCash for illegal and unlawful activities,," Berona added.

GCash said it employs up-to-date security technologies and global best practices are applied on its app to keep consumers and transactions safe. 

"GCash would also like to clarify that it is not party to incidents from other financial institutions," it added.

Customers should be more careful and vigilant as cyberciminals are now using phishing techniques through "official-looking" SMS, emails and social media site to acquire sensitive information, it said.

"The fraud incidents presented by the NBI today are good reminders for everyone to be extra careful and ensure we do not share our OTPs at all costs," GCash said. 

The use of digital banking and mobile wallets surged during the pandemic as consumers sought ways to transact safely while at home.


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