GCash says app security is strictly compliant during Senate hearing

During a recent Senate hearing, GCash states that its security has been in strict compliance with guidelines imposed by the BSP and AMLC.

GCash ensures Senate of its app security

GCash firmly says safety and security is a priority

GCash stated that it has layers of security verification to keep its users safe. It also has regular monitoring required by different regulatory bodies. Even though the National ID is not here yet, GCash continues to comply with government regulations by implementing different steps, including a Know-Your-Customer (KYC) process, to check the validity of clients that join up for GCash.

Despite the fact that other online and offline banking channels offer the same service without strict standards in place, GCash has additional safety procedures in place to prevent unverified persons from utilizing its channel for e-Sabong.

While minors can register in GCash through the KYC procedure, they will have limited access to services such as Pitmasters (e-Sabong). The only means for anyone under the legal age to use GCash for this purpose is through unsupervised use of an adult account or access through mule accounts that have been rented, unlawfully sold, or fabricated, all of which are deemed illegal and punishable by law.

Unfortunately, even with the most advanced technology and security measures in place, GCash will not be able to totally prohibit criminals from selling, renting out, or enabling others to use their identities or GCash accounts. As a result, Gcash advises everyone to safeguard their identities and accounts, and to report any incidents of misuse to appropriate partner agencies, such as the Philippine National Police and the National Bureau of Investigation.

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