GCash said it is collaborating with regulators and law enforcement to combat illicit online gambling and protect its users.
In a statement released on August 20, GCash warned the public about the misuse of fake or illegal payment accounts, which are often exploited by illegal gambling operators.
“We are working hand-in-hand with regulators and law enforcement to shut down illicit activity and protect our users,” Oscar Enrico Reyes Jr., president and CEO of G-Xchange, Inc. (GXI), said.
The company reiterated its zero-tolerance policy against any unlawful activity and stressed that it has no affiliation with illegal gambling operators. Any site or group that claims a link to GCash is either misrepresenting the company or illegally using its platform.
“Illegal online gambling undermines financial integrity and public welfare. Anyone connecting our brand to these sites is either misrepresenting us or illegally using our platform,” Reyes added.
As part of its efforts, GCash immediately blocks and suspends accounts involved in illegal transactions and prohibits the misuse of payment QR codes for unlawful payments.
GCash is also working closely with the Bangko Sentral ng Pilipinas (BSP), the Anti-Money Laundering Council (AMLC), and law enforcement agencies to detect, report, and shut down illicit activities.
Since 2023, GCash has taken down more than 57,000 phishing sites and reported 916 illegal online gaming sites to authorities.
“GCash is committed to ensuring that Filipinos can transact with confidence and peace of mind. We will continue to strengthen our security systems and work closely with regulators and law enforcement to keep our platform safe,” the company stated.
