The National Bureau of Investigation (NBI) and GCash, the leading finance super app in the country, have formalized their commitment to enhance cooperation in combating online fraud, scams, and cybercrimes by signing a memorandum of agreement.
Within this collaborative effort, GCash will actively support the NBI in preventing, detecting, investigating, and prosecuting cybercrimes linked to the use of the GCash mobile app or the transfer/receipt of proceeds from any criminal activity. This will involve the provision of relevant information and data in accordance with existing laws, rules, and regulations. The agreement underscores GCash’s dedication to prioritizing the security of its users’ funds and data.
The signing ceremony witnessed the participation of key officials, including NBI Director Atty. Medardo G. De Lemos, NBI Officer-in-Charge (OIC) of the Office of the Deputy Director for Operations Jose Justo Yap, GXI Chief Executive Officer Oscar Enrico Reyes Jr., and GCash Group Head of New Businesses and Corporate Affairs, Winsley Royce Bangit, alongside other prominent leaders from both entities.
Director De Lemos emphasized the significance of this partnership in the context of the increasing digital adoption among Filipinos for their daily transactions and investments. He highlighted the critical role of GCash as an active collaborator, exchanging technical knowledge and expertise to enhance cybersecurity measures and collectively combat scammers, fraudsters, and cybercriminals.
GCash is actively engaged with the Philippine National Police Anti-Cybercrime Group (PNP-ACG), Anti-Money Laundering Council (AMLC), and other law enforcement agencies. The collaboration involves employing cutting-edge security technologies, continuous threat and intelligence sharing, and strict adherence to anti-money laundering, counter-terrorism financing, and anti-fraud standards. GCash also emphasizes user awareness and encourages individuals to be vigilant against fraud when using digital wallets.
Oscar Enrico Reyes Jr., CEO of GXI, acknowledged the rising instances of online scams and cybercrimes, emphasizing the urgency of collective efforts with authorities to safeguard Filipinos from perpetrators.
As the largest digital ecosystem in the country and a pioneer in inclusive digital finance, GCash is committed to its vision of “Finance for all,” providing Filipinos with easy access to safe, secure, and convenient digital financial products and services. The GCash app is available for free download on Google Play and the App Store, and more information can be found at www.gcash.com.ph.
