GCash, a wholly-owned subsidiary of Mynt (Globe Fintech Innovations Inc)., has seen a significant decline in text scam attempts in its users following the rollout of its “double safe” feature early this year.
Pebbles Sy, GCash chief technology and operations officer, recently said GCash has blocked over 750,000 account takeover attempts of its users as of June this year.
The company also noted a 60 to 70 percent decline in scams with the “double safe” feature and further aims to eradicate the scams, she added.
Early this year, GCash introduced its Cybersecurity Tech Investment “DoubleSafe,” a security feature designed to ensure only the owner can access their account on a new device.
Aside from the protection provided by the two-factor authentication and a mobile personal identification number (PIN), DoubleSafe uses face ID technology to detect if the person accessing the account is the same as the owner.
During the recent Cybersphere Philippines Forum, Sy presented the company’s best practices in cybersecurity and trust tech.
“With 2-factor authentication, a mobile PIN, and Face ID technology, we’re not just guarding your account; we’re ensuring it’s always in the right hands,” said Sy.
More than just the latest security technology, GCash has also ramped up its education campaign against scams. Through the #GSafeTayo campaign, the public is empowered on how they can protect their digital accounts.
“Through the relatable content across diverse channels, we’re illuminating the path to digital safety, ensuring everyone can do transactions online with utmost confidence,” Sy added.
GCash has been aggressive in going after fraudsters and cybercriminals by partnering with the Philippine National Police Anti-Cybercrime Group, National Bureau of Investigation, Department of Information and Communications Technology and the Cybercrime Investigation and Coordinating Center. – Myla Iglesias
