Senator Sherwin Gatchalian wants the Senate to probe the reported practice of renting or selling e-wallet accounts, which warned could be a channel for money laundering and other illegal activities.
Gatchalian said he has gotten wind of reports that some users of e-wallets like PayMaya and GCash lend or sell their verified accounts to earn money. Online scammers will then use these accounts for sale to solicit money from other people.
Another scheme involves selling a copy of SIM cards already registered under a user’s name in the black market, granting the scammer illegal access to the e-wallet using that number.
“The PNP Anti-Cybercrime Group has reported that fraudsters use such accounts in criminal activities such as money laundering and identity theft,” Gatchalian said, adding money mules may also be using these rented or stolen e-wallets to transfer ill-gotten funds.
“Criminals often target students, the unemployed, and those on dating websites by lending or selling their mobile accounts,” he added, citing the need to protect online wallet users from such schemes.