GCash introduces DoubleSafe to help prevent account takeovers

Staff ni Anjie

GCash introduces DoubleSafe to help prevent account takeovers.

GCash, the most widely used financial app in the Philippines, now offers "DoubleSafe," a revolutionary security feature that guards users against account takeovers.

GCash introduces "DoubleSafe" to help prevent account takeovers
GCash introduces "DoubleSafe" to help prevent account takeovers.

The 76 million GCash users are safeguarded by DoubleSafe by preventing unauthorized account access. Before DoubleSafe, GCash required two verification stages, also known as two-factor authentication. The first line of defense is the OTP (One-time PIN), a one-time number combination that is only communicated to the user's cell phone. The MPIN (Mobile PIN), a four-digit passcode known only to the customer or GCash owner, serves as the second authentication stage.

All users of GCash will be required to activate DoubleSafe as of March 2023 in order to provide an extra layer of security to their accounts and increase account security. This function will be activated upon the first login to a new mobile phone to guarantee the ongoing protection of its users. By using facial recognition, the process prevents account takeovers even if a user mistakenly gives fraudsters their MPIN and OTP. This is because the account cannot be accessed from another device without scanning the owner's face.

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GCash works closely with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) in chasing fraudsters and scammers in addition to this security measure. After signing a memorandum of understanding with PNP-ACG in 2022, this became official.

The PNP-ACG and GCash are cooperating to catch these hackers and educate the public on how to secure their accounts, according to Miguel Geronilla, Head of Fraud Management at GCash. "We can ensure that GSafeTayo cooperates with the law enforcement, other suitable governmental entities, and our users."

Together with the introduction of Doublesafe, GCash is scaling up its GSafeTayo campaign with a collection of awareness-raising and educational resources aimed at assisting users in identifying and avoiding bogus merchants, dubious links, and other typical forms of fraud.

During the campaign, customers are given the tools they need to defend absolute account security alongside GCash.

The advertisement places a strong emphasis on preventative measures to guard against scams:

Avoid clicking on any unfamiliar links. Scammers frequently include links in messages, luring recipients with alluring "prizes" or the possibility of a well-paying job. To counter this, GCash stopped sending links over SMS, emails, and other messaging services.

Never divulge personal information. Fraudsters routinely call people pretending to be from GCash to get access to their personal data. Customers will never be asked for their MPINs or OTPs by GCash, who will only get in touch with them via official channels.

Double-check before you purchase. To persuade customers to purchase their goods, phony online merchants and stores offer pricing that is simply too good to be true. GCash advises double-checking online offers and reading reviews to ensure authenticity.

"At GCash, we highly respect our customers' peace of mind and safety. Our improved GSafeTayo campaign and DoubleSafe will protect our users from scammers and account takeovers, "Geronilla said. Nonetheless, we are expanding messages to our 76 million clients about how they should secure their accounts in addition to security measures.

Customers can use the GCash Help Center via the GCash app or at https://help.gcash.com/ to report scams and other questionable activity. To report a scam, say, "I want to report a scam" to Gigi.

With GCash's unwavering efforts to protect its users' hard-earned money and the collective efforts of its customers and partners, we can assure that #GSafeTayo with GCash.

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