GCash intensifies anti-fraud drive with CICC collab

Ayala-backed financial superapp GCash has partnered with Cybercrime Investigation and Coordinating Center, or CICC, for a data-sharing deal to strengthen crack down against online financial fraud.

The parties signed the deal on Monday to combat cybercrimes including frauds and online scams.

“We will diligently and relentlessly pursue the cyber threat actors wherever they may be and bring them to justice. This is the kind of cooperation and the kind of message that we, in this afternoon, are delivering to everybody. And I look forward to more of these partnerships and collaborations,” Information and Communications Technology Secretary Ivan John Uy said at a press briefing.

“Rest assured that your government under this administration will continue and increase our diligence in pursuing more and more ways to address these threats,” he added.

For Winsley Bangit, vice president and group head for GCash New Businesses, the tie-up helps them trace accounts that may use GCash wallets for crimes.

Last year, GCash deactivated over four million accounts on its platform due to fraudulent transactions and other malicious activities.

Gcash has also an active partnership with authorities and regulatory bodies, like the Bangko Sentral ng Pilipinas and National Privacy Commission to protect consumers from fraud.

GCash recently announced the roll out the service and expansion to 10 more countries: the United Arab Emirates, the Kingdom of Saudi Arabia, Kuwait, Qatar, South Korea, Taiwan, Singapore, Hong Kong, Spain, and Germany.

These are in addition to the US, Canada, Italy, the UK, Australia, and Japan.

GCash users in these 16 countries can sign up with their international mobile numbers with their Philippine passport or other Philippine Valid ID as proof of identity.