GCash removed more than 4 million accounts that were suspected of being involved in cybercrimes.
GCash has removed more than 4 million accounts that engaged in risky transactions and fraud to ensure the security of their e-wallet application.
We can stop transactions that seem suspicious or risky. We removed over 4 million accounts in only 18 months, from January 2022 to June 2023,” said Oscar Reyes Jr., the president and CEO of G-Xchange.
GCash has stopped access to 185 websites that could potentially steal information from GCash users.
The House of Representatives has given the green light to the Anti-Financial Account Scamming Act, which aims to punish people involved in financial fraud.
These things should be illegal because by doing them, you are helping someone commit a crime. Ernest Cu, the CEO and president of Globe, believes that we should pass a law to stop that kind of thing. We are currently urging Congress to make this happen.