Mobile wallet GCash supports a proposed law criminalizing the loan and sale of mobile wallet accounts.
“Given the increasing incidents of online fraud, GCash supports measures to criminalize the lending and selling of e-wallet accounts to prevent scammers from using this modus,” according to Ingrid Rose Ann Beroña, GCash Chief Risk Officer.
Scammers use e-wallet accounts not registered under their names, using SIM cards from people who sell or lend their identities in the black market.
As a full digital platform, GCash monitors and traces transactions on its platform via eKYC (electronic- Know Your Customer) process aligned with the requirements of the Bangko Sentral ng Pilipinas.
The eKYC makes it easy to identify account holders because their live photo is taken, together with their valid ID.
GCash calls on users to be extra vigilant when making transactions via #GCheckMuna to avoid being victimized by scammers.
Its #GCheckList to avoid fraud online includes learning how to spot fake websites, emails, texts, or calls.
Check if the email address and the send are the same and it comes from the email domains @gcash.com or @mynt.xyz.
Make sure the websites, www.gcash.com or www.help.gcash.com, are spelled correctly and without additional punctuations.
It’s also important never to click any link inside emails or texts.
Fake emails, messages, or even calls usually instill a sense of urgency among users – pressuring them to take action so that their account won’t be deactivated or that they won a prize that needs to be claimed immediately.
Be aware of the various types of scams.
Stay up to date on fraudsters’ modus operandi on the news or from trusted experts and organizations like GCash.
Some scammers resort to swindling or use account takeover to scam people. Avoid account takeover or phishing.
Scammers often pose as a company representative or a loved one to trick users into giving their One-time Password (OTP).
That’s why it’s important never to share the MPIN or OTP.
Also, don’t click links outside of the GCash app, especially from websites or senders which have not been verified to be legitimate.
GCash promos and raffles will only be released via official channels. Stay away from fake online sellers.
Make purchases only from trusted ones, or at least research online if the seller is legitimate.
Check when the account was created, if the seller transacts with multiple customers, and if they have repeat customers. Also, take the time to read the customer reviews.
To help ensure customers’ safety, GCash has put in place security measures such as real-time risk monitoring to capture suspicious activities.
They also bar and blacklist fraudulent transactions and accounts.
In addition, GCash partnered with the Philippine National Police - Anti-Cybercrime Group to apprehend fraudsters.
For added protection, GCash is building an insurance portfolio to make online experience safer than ever, including an Online Shopping Insurance which customers can avail of for as P15 a month to protect them from online selling scams.
To report scams and fraudulent activities, visit the official GCash Help Center at https://help.gcash.com/hc/en-us or message Gigi on the website and type, “I want to report a scam.”
GCash will never send personal message to address concerns. Customers may also reach out to the official GCash hotline: 2882 for queries and other concerns.
GCash (G-Xchange, Inc.) is the country's leading Finance App.
Through the GCash App, 66M registered users can purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money.
GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the country's first and only duacorn.