GCash partners with PNP’s anti-cybercrime unit to combat online scammers

E-wallet app GCash has signed an agreement with the Philippine National Police Anti-Cybercrime Group (PNP ACG) as it responds to rising scams.

The online wallet owned by the bilyonaryo Zobel de Ayala clan teamed up with the PNP ACG as more clients are falling victim to online fraud, which usually involve scammers gaining access to a depositor’s account by pretending to be GCash employees and are supposedly blocking a hacking attempt.

“In addition, GCash is also launching a solution that elevates the protection against unauthorized transactions and account takeovers with Double Authentication, which ensures ONLY the account owner can link their account to a device,” the fintech firm said.

There have been reports that hackers do not only siphon off available balances in GCash wallets but also take out thousands of pesos of loans via GCredit to steal more money from their victims.

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