GCash, SEC partner to bolster fight vs scammers

SEC AND GCASH MOA SIGNING:  From L-R: Oliver Leonardo, SEC Enforcement and Investor Protection Department (EIPD) director; Emilio Benito Aquino, SEC Chairperson and CEO; Martha Sazon, president and CEO of Mynt; Oscar Reyes Jr, CEO of GXI, and Tony Isidro, CEO of Fuse.

MANILA  -Mobile wallet giant GCash and the Securities and Exchange Commission are teaming up to boost efforts against perpetrators of financial crimes and scams.

During the agreement signing event on Thursday, GCash said it would support the SEC’s enforcement measures by providing relevant information and data in accordance with prevailing laws, rules, and regulations.

“By continuously working with the government in combating scams, fraud, and other cybercrimes, we want our users to have peace of mind and confidence to transact in the digital space. After all, at GCash, the security of our users is our utmost priority,” said G-Xchange CEO Oscar Reyes Jr.

GCash, a venture between the Ayala Group and China’s Ant Group, is the country’s biggest mobile wallet with over 80 million users. The surging use of digital payments and e-wallets also makes them a popular venue for cybercriminals and scammers.

“As the country’s investor champion, we must think of ways for fintech companies like GCash to thrive. Financial services offered by GCash will further the cause for financial inclusion and bring the capital market to more Filipinos,” Aquino said.