25 August 2022

The Philippines’ top mobile wallet GCash is ready to support proposed legislation that will criminalize the loan and sale of mobile wallet accounts.

This development came after authorities were able to successfully trace and apprehend suspects who attempted to extort money from Senate President Juan Miguel Zubiri. Seized from these fraudsters were marked money, identification cards, mobile phones, and the SIM card allegedly used in communicating with Zubiri.

Scammers often use e-wallet accounts that are not registered under their names. Fraudsters are able to do this by using or buying SIM cards in the black market that are registered with e-wallets under people who sell or lend their identities.

“Given the increasing incidents of online fraud, GCash is ready to support measures to penalize the lending and selling of e-wallet accounts including calls to criminalize the activity in order to prevent scammers from using this modus,” said Ingrid Rose Ann Beroña, GCash Chief Risk Officer.

As a full digital platform, GCash boasts of its capability to monitor and trace transactions on its platform. GCash uses the eKYC (electronic- Know Your Customer) process aligned with the requirements of the Bangko Sentral ng Pilipinas. GCash eKYC, makes it easy to identify the account holder because a live photo of the person is taken together with their valid ID.

GCash is also beefing up its campaign against fraudsters as it ramps up its call for users to be extra vigilant when making transactions. GCash is renewing its call for users to #GCheckMuna to avoid being victimized by scammers. Here’s a #GCheckList with helpful advice on how to avoid fraud online:

Learn how to spot fake websites, emails, texts, or calls. Check if the email address and the send are the same and it comes from the email domains or Make sure the websites, or, are spelled correctly and without additional punctuations. It’s also important to NEVER click any link inside emails or texts. Fake emails, messages, or even calls usually instill a sense of urgency among users – pressuring them to take action so that their account won’t be deactivated or that they won a prize that needs to be claimed immediately.

Be aware of the various types of scams. Stay up to date on fraudsters’ modus operandi on the news or from trusted experts and organizations like GCash. Some scammers resort to swindling or use account takeover to scam people.

Avoid account takeover or phishing. Scammers often pose as a company representative or a loved one to trick you into giving your One-time Password (OTP). That’s why it’s important to never share your MPIN or OTP. Also, don’t click links outside of the GCash app especially from websites or senders which you have not verified to be legitimate. Likewise, GCash promos and raffles will only be released via official channels.

Stay away from fake online sellers. Make purchases only from trusted online sellers, or at least research online if the seller is legitimate. Check when the account was created, if the seller transacts with multiple customers, and if they have repeat customers. Also, take the time to read the customer reviews

To further help ensure customers’ safety and security, GCash has put in place various security measures:

• Real-time risk monitoring to capture various suspicious activities
• Barring and blacklisting fraudulent transactions and accounts
• Partnering with the Philippine National Police – Anti-Cybercrime Group to apprehend fraudsters

For added protection, GCash is also building an insurance portfolio to make online experience safer than ever including an Online Shopping Insurance which customers can avail for as low as P15 a month. This would protect users from online selling scams.

To report scams and fraudulent activities, visit the official GCash Help Center at or message Gigi on the website and type, “I want to report a scam.” GCash will NEVER send you a personal message to address concerns. Customers may also reach out to the official GCash hotline: 2882 for queries and other concerns.

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