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GCash, NBI vow to strengthen users’ account safety against cyber crimes

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By Marinel Peroy 

GCash, the country’s number one finance super app, and the National Bureau of Investigation (NBI) signed a Memorandum of Agreement (MOA) on Wednesday to further strengthen their collaboration against perpetrators of online fraud, scams, and other cybercrimes. 

During the signing ceremony, key officials were represented by NBI director Atty. Medardo G. De Lemos, NBI officer-in-charge (OIC) of the Office of the Deputy Director for Operations Jose Justo Yap, G-Xchange, Inc. (GXI) chief executive officer Oscar Enrico Reyes Jr., and GCash Group Head of New Businesses and Corporate Affairs, Winsley Royce Bangit, together with other key leaders from the Bureau and GCash. 

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Top photo from left: Atty. Maricor Alvarez-Adriano, GCash Chief Legal Officer, Atty. Gilbert Escoto, GXI Chief Legal Officer, Oscar “Renren” Reyes, G-Xchange Inc (GXI) President and CEO, Atty. Medardo de Lemos, NBI Director, Atty. Jose Justo Yap, NBI Deputy Director for Operations

This said partnership between GCash and NBI will not only help prevent, detect, investigate, but also prosecute cyber crimes that involve the use of the GCash mobile app or the transfer or receipt of proceeds from any crime or unlawful activity. This will be done by providing relevant information and data under prevailing laws, rules, and regulations. The MOA also serves as a solidified commitment to how GCash prioritizes securing their users’ funds and data. Further, GCash users must first submit a police report followed by certain steps upon complaint. 

“We have made trust and security as our top priority. We understand that cybersecurity challenges are always evolving, not just in the Philippines but globally as well. That’s why, Gcash has proactively been taking steps to shield our users from these threats,” said Oscar “Renren” Reyes, G-Xchange Inc (GXI) President & CEO. 

Reyes also mentioned that GCash has been improving their security features to protect their users’ accounts such as having OTP, MPINs, and the recently-introduced GCash ‘Double Safe’ through the use of face recognition. Further, GCash is also leveraging its data analytics to protect users from the rise of online scams, investment fraud, and various cybercrimes in recent years. 

With this endeavor towards consumer protection and financial inclusion, GCash continues to actively work with the Philippine National Police Anti-Cybercrime Group (PNP-ACG), Anti-Money Laundering Council (AMLC), and other law enforcement agencies to further employ up-to-date security technologies, strengthen security measures, through continuous threat and intelligence sharing, and better ensure safer transactions for users. 

“Now more than ever, it is crucial that we work together with authorities to protect Filipinos against perpetrators,” said Reyes. 

NBI Director Atty. Medardo de Lemos, on the other hand, mentioned that more Filipinos have now embraced the digital space for their transactions and investments. 

As NBI Director Atty. Medardo de Lemos mentioned, “This partnership is a big milestone in our shared fight against scammers, fraudsters, and other cybercriminals,” highlighting the crucial role of law enforcement and active partners such as GCash in having technical knowledge exchange as well as initiatives with cybersecurity measures and expertise.

Being the country’s biggest digital ecosystem and a pioneer in inclusive digital finance, GCash continues to bolster its vision of “Finance for all” to allow Filipinos to have easy access to safe, secure, and convenient digital financial products and services – empowering communities across the nation. GCash also reminds account users to protect themselves when using digital wallets and become more attentive in the face of fraud.

No Gcash yet? Download GCash super app for free on Google Play and the App Store. For more information, visit www.gcash.com.ph.

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