• GCash ramps up user data protection

    GCash ramps up user data protection
    Rolls out username anonymity when sending money

    GCash, the Philippines' biggest mobile wallet, underscores its strong commitment to protecting its customers' accounts and personal information as it places utmost priority on helping address scam text messages that bear the full names of mobile phone users.

    The leading fintech firm also asserts the integrity of the data of its over 66 million users, saying there has been no data breach or leak in its systems.

    "We have been working closely with the National Privacy Commission on the issue of text scams with names. We wish to assure our customers that our systems and infrastructure remain secure and there is no incidence of any data leak or breach," shared Mark Frogoso, Chief Information Security Officer of GCash. "Protecting our customers' personal information remains a top priority which we believe is integral to our vision of achieving Finance for All."

    As an added layer of customer protection, GCash swiftly rolled out a feature update that anonymizes the names of users in the send money service. In the past, the person's name was seen as an added measure of convenience and helped verify that the recipient was correct.

    "We must balance customer experience and strengthening measures to protect user information from unscrupulous individuals. For example, the feature that shows recipients' full names was intended to help users verify if they are sending to the right person and avoid being scammed," Frogoso said.

    Likewise, the e-wallet has started migrating transaction confirmations from text messages to the app inbox to improve security and provide customers with easier access to their transaction history.

    GCash has been getting strong support from its parent company, Globe Telecom, which has spent $20 million or about P1.1 billion to boost its capabilities in detecting and blocking scams and spam messages.

    Through vigorous 24/7 efforts, Globe blocked 784 million scams and spammed messages from January to July this year, deactivated 14,058 scam-linked SIMs, and blacklisted 8,973 others. Globe also blocked 610 domains or uniform resource locators (URL).

    GCash protects its customers' personal data and accounts by employing various security measures, including cyber threat detection and analytics, vulnerability scanning, incident response, and forensics.

    Thanks to these world-class tools, the company has been able to detect and take down phishing sites, and malicious social media sites that impersonate GCash, with 900 phishing sites and 400,000 social media accounts already taken down.

    The leading e-wallet is also in close cooperation and collaboration with concerned government agencies to provide any information they need to prevent the spreading of these spam messages.

    GCash has been relentlessly working with authorities as it was able to block 1.37 Million fraudulent accounts from January 2021 to July 2022, on top of those blocked by its security systems. Further, GCash has helped arrest fraudsters targeting the hard-earned money of its users.

    "As a result of being the most used e-wallet with the largest user base in the Philippines, we must be ahead of the curve when it comes to protecting the personal information and funds that our customers have entrusted to us," Frogoso said.

    GCash has been ramping up efforts against fraudsters and scammers through its #SafeWithGCash campaign, which urges its users to be extra vigilant when making transactions.

    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 users personal messages to address concerns or get personal information, especially the MPIN and One-time Pin (OTP).

    Customers can also contact the official GCash hotline, 2882, for queries and other concerns.
    You may like...

    Facebook Comments

about us
We are the first Cebu Online Media.

iSTORYA.NET is Cebu's Biggest, Southern Philippines' Most Active, and the Philippines' Strongest Online Community!
follow us