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GCash boosts security efforts to protect users amid pandemic


Globe Telecom-backed financial services provider GCash is ramping up its security measures to protect customers from fraudsters and cybercriminals amid the COVID-19 pandemic.

In a statement, GCash said it is putting in different safety nets that keep customers alert and aware of their accounts’ security and safety.

The mobile wallet app said it has ensured that users receive SMS, in-app and social media advisories against fraudulent pages, including fake donation drives and fake financial aid offers under the government's social amelioration program.

It also rolled out app notifications informing customers not to share their account details.

As soon as a customer opens the GCash app, the reminder not to share any information such as MPINs and OTPs (one-time pins) with anyone can be seen, it said.

GCash noted that it has also taken a more active role in ensuring that fake social media advisories and accounts are taken down.

"As the fight against the coronavirus ensues, we're also waging a war against unscrupulous individuals who are taking advantage of this pandemic to defraud Filipinos. We want to ensure that GCash users who are dependent on our services have trust and confidence in our app, which is why we are doing everything we can to improve our own programs that promote cybersecurity awareness,” GCash president and CEO Martha Sazon said.

"We want to ensure that GCash users who are dependent on our services have trust and confidence in our app, which is why we are doing everything we can to improve our own programs that promote cybersecurity awareness," Sazon said.

GCash notes it has also partnered with authorities in fraud investigations, offering assistance and cooperating with the National Bureau of Investigation (NBI).

In May, GCash said it helped the NBI arrest three online swindlers who violated the Cybercrime Prevention Act of 2012 and committed estafa. The individuals asked for users' personal details, including birth dates, addresses, authentication codes, and email addresses.

"We are committed to ensuring that our users' data is protected and that they enjoy the app safely and securely," Sazon said.

"This is why we're always on the lookout at how we can intensify our drive against criminals who continue to sully the company's name,” she said.

The mobile wallet also introduced the Customer Protect program, wherein qualified users are assured of compensation for unauthorized financial transactions on their GCash app, arising from stolen mobile phones or identity theft.

"At GCash, we understand that the surge of users can also breed fraud risks like cyberattacks and identity theft, which is why, since day one, we have always worked toward prioritizing security and reducing our vulnerabilities," Sazon said.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc. — DVM, GMA News

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