GCash to establish rapid incident response system with DICT’s cybercrime center to combat fraud, cybercrimes
Fintech company GCash has announced plans to establish a swift incident response system in partnership with the Department of Information and Communications Technology’s (DICT) Cybercrime Investigation and Coordinating Center (CICC) to combat fraud and cybercrimes on its platform.
During a press conference, DICT Secretary Ivan Uy stated that the collaboration with GCash aims to establish a “rapid incident response” on fraud-related crimes committed through GCash. The goal is to protect the public in a timely manner.
Alexander Ramos, the Undersecretary of CICC, mentioned that the initiative between GCash and the CICC will “properly protect” the public and prevent online scammers from getting more victims. Ramos advised victims of online scams to promptly report incidents to GCash and the CICC, rather than posting on social media.
In a separate press release, GCash emphasized their commitment to “leverage capabilities” to “synergize efforts in combating cybercrime activities, and improve cyber capabilities and resilience.” The company also revealed that 94 million Filipinos have used the e-wallet, along with six million merchants.
Additionally, GCash shared that it had already blocked over four million fraudulent accounts and taken down 810 phishing sites and 45,000 malicious social media posts and accounts as of 2023.
The Philippine National Police reported that swindling or fraudulent schemes are the top cybercrime in the Philippines, accounting for 15,000 incidents.
