GCash strengthens user data protection

Philstar.com

September 9, 2022 | 10:35 a.m.

Deploy username anonymity when sending money

MANILA, Philippines — GCash, the Philippines’ largest mobile wallet, underscores its strong commitment to protecting its customers’ accounts and personal information as it places the highest priority on resolving fraudulent text messages bearing users’ full names. of mobile phones.

The leading fintech company also affirms the integrity of the data of its more than 66 million users, saying there have been no data breaches or leaks in its systems.

“We have worked closely with the National Privacy Commission on the issue of SMS scams with names. We want to assure our customers that our systems and infrastructure remain secure and that there is no has no implications of data leakage or breaches,” Mark Frogoso, GCash’s Chief Information Security Officer, said, “Protecting our customers’ personal information remains a top priority which we believe is part of integral to our vision of achieving finance for all.

As an added layer of customer protection, GCash quickly rolled out a feature update that anonymizes the names of users of the money transfer service. In the past, the person’s name was considered an extra measure of convenience and to verify that the addressee was correct.

“We need to strike a balance between customer experience and strengthening measures to protect user information from unscrupulous individuals. The feature that displays recipients’ full names was intended to help users check if they’re sending to the right person and avoid being scammed,” Frogoso said.

Similarly, the e-wallet has begun migrating transaction confirmations from text messages to the app’s inbox in a bid to improve security and provide customers with easier access to their transaction history. transactions.

GCash has received strong backing from its parent company, Globe Telecom, which has spent $20 million, or about 1.1 billion pesos, to boost its capabilities to detect and block scams and spam.

Through vigorous 24/7 efforts, Globe blocked 784 million scam and spam messages from January to July this year, deactivated 14,058 scam-related SIM cards and 8,973 others blacklisted. Globe also blocked 610 domains or uniform resource locators (URLs).

GCash ensures the protection of its customers’ personal data and accounts by using various security measures, including cyber threat detection and analysis, vulnerability scanning, as well as incident response and forensics.

Using these world-class tools, the company has been able to detect and remove phishing sites and malicious social media sites posing as GCash, with 900 phishing sites and 400,000 social media accounts already removed.

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

GCash has worked tirelessly with the authorities as it was able to block 1.37 million fraudulent accounts from January 2021 to July 2022, in addition to those blocked by its security systems. Additionally, GCash has helped stop scammers who targeted its users’ hard-earned money.

“Due to being the most widely used e-wallet with the largest user base in the Philippines, it is imperative for us to be at the forefront of protecting personal information and funds that our customers have trusted us,” said Frogoso.

GCash has stepped up its efforts against fraudsters and scammers through its #SafeWithGCash campaign, as it urges its users to be extremely vigilant when transacting.

To report scams and fraudulent activity, 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 messages to users to address their concerns or obtain personal information, especially MPIN and One Time PIN (OTP). Customers can also contact the official GCash 2882 hotline for questions and other concerns.

About Sandra A. Powell

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