GCash supports government initiatives to sanction e-wallet loans and sales.
The local provider of mobile wallet services, GCash, has stated its support for the government’s campaign to stop the loaning and selling of mobile wallet accounts, which are frequently utilized by cybercriminals.
Scammers and other cybercriminals use mobile wallet or e-wallet accounts that are registered under multiple names by purchasing SIM (subscriber identity module) cards sold on the black market, according to a statement from GCash Chief Risk Officer Ingrid Rose Ann Berona on Thursday.
“GCash is prepared to support efforts to penalize the loan and selling of e-wallet accounts, including requests to criminalize the activity in order to prevent scammers from exploiting this modus,” Berona stated. “Given the increasing incidence of online fraud.”
GCash is stepping up its battle against fraudsters through information drives with its customers to assist curb the use of e-wallets in cybercrimes.
She stated, “GCash is reinforcing its urge for users to #GCheckMuna to prevent falling victim to scammers.
The program attempts to inform consumers about numerous frauds, how to recognize false websites, emails, texts, or phone calls, how to avoid account takeover or phishing, and how to avoid dealing with phony online merchants.
In addition to these security measures, the company has also partnered with the Philippine National Police (PNP) – Anti-Cybercrime Group to apprehend fraudsters and deployed “real-time risk monitoring,” which blocks and blacklists fraudulent transactions and accounts.
The Criminal Investigation and Detection Group detained two people on Wednesday after they tried to demand PHP 50,000 from Senate President Juan Miguel Zubiri and claimed to be the governor and a board member of the province of Siquijor.
After the event, Zubiri swore to work to have the SIM Card Registration Bill passed, which would call for the registration of SIM cards with specific people.
The bill’s inclusion of social media providers in the registration requirement—which was not a part of the original version of the bill—led to former president Rodrigo Duterte’s veto of it in April of last year.
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