Globe Telecom Inc. mobile wallet GCash on Friday intensified its collaboration with the Cybercrime Investigation and Coordinating Center (CICC) of the Department of Information and Communications Technology (DICT) to combat fraudster and other cybercriminals
This developed in the wake of the courtesy visit by GCash legal and security officials on Friday to the head of the CICC, Undersecretary Alexander Ramos, and came just days after a systems glitch resulted in unauthorized transfers of money from hundreds of e-wallet accounts.
Gilda Maquilan, GCash vice president for public affairs and corporate communications, earlier reported that after receiving reports of irregular fund transfers from subscribers, management immediately conducted a probe and detected phishing as the cause of the problem.
She said the suspects took advantage of the ongoing SIM card registration and managed to snatch certain vital personal information from victims and used in the anomalous fund transfers.
Maquilan said the stolen funds were then traced to various accounts in Asia United Bank and East West Bank. All stolen funds were reverted in full to GCash virtual wallets.
GCash signed an agreement with the CICC in 2022 boosting efforts in going after those involved in phishing, smishing, online fraud and scams, vishing, and other cybercrimes that target GCash users.
In cooperation with also authorities, GCash has blocked 3.1 million fraudulent accounts and has taken down 722 phishing sites and 38,000 malicious social media posts and accounts from January 2022 to April this year.
