Over 4 million suspicious accounts removed by GCash


GCash recently took action to safeguard its digital wallet app by removing more than 4 million accounts suspected of involvement in cybercrimes. These accounts were engaged in risky transactions and potential fraud, prompting GCash to block them. According to Oscar Reyes Jr., the president and CEO of G-Xchange, this effort occurred over 18 months, from January 2022 to June 2023.

In addition to these measures, GCash also blocked 185 websites that posed a threat to user information. To combat financial fraud, the House of Representatives has approved the Anti-Financial Account Scamming Act, which will penalize individuals participating in such activities. Ernest Cu, the CEO and president of Globe, emphasized the importance of criminalizing these actions to deter individuals from aiding and abetting financial crimes.



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