GCash reaffirms “Zero Tolerance policy” against illegal online gambling in the Philippines
The financial technology company said has no association with gambling operators.
The Philippines.- Financial technology company GCash has said that it has a “Zero Tolerance policy” against unlawful activity and has no links to illegal gambling operators. The announcement comes after the Bangko Sentral ng Pilipinas (BSP) banned e-wallets from linking to online gaming platforms.
The company says it immediately blocks accounts linked to illegal transactions, prohibits misuse of payment QR codes, and collaborates with BSP, AMLC, and law enforcement to detect illicit activities.
Oscar Enrico A. Reyes, Jr., president and CEO of G-Xchange, Inc. (GXI), said: “Illegal online gambling undermines financial integrity and public welfare. GCash has no links to illegal gambling operators, anyone connecting our brand to these sites is either misrepresenting us or illegally using our platform.” He also said they are working “hand-in-hand with regulators and law enforcement” to shut down illicit activity and protect users.
The company advised users to take precautions and scan QR codes only from trusted merchants and billers, to verify payment details before confirming transactions and to report suspicious activity through the in-app GCash Help Center, hotline 2882, or via the Bangko Sentral ng Pilipinas (BSP) Consumer Protection channels.
“GCash is committed to ensuring that Filipinos can transact with confidence and peace of mind. We will continue to strengthen our security systems and work closely with regulators and law enforcement to keep our platform safe,” the company said.
