March 21, 2023

G-Cash launches new security feature against account takeovers

GCash, the mobile wallet app, has introduced a new security feature named “DoubleSafe” to protect its 76 million users from account takeovers.

The new feature requires users to activate an additional layer of security using facial recognition for every first login to a new mobile phone.

This comes on top of the existing protection provided by a 2-factor authentication and a mobile pin.

The company aims to prevent fraudsters from taking over accounts, even if users mistakenly shared their mobile pin and OTP.

GCash’s parent company, Globe Telecom, reported that it blocked a record high of 2.72 billion scam and spam messages in 2022, more than double the 2021 total of 1.15 billion, and 83.4 million bank-related spam messages last year.

The telco giant has invested around $20 million to enhance its spam and scam SMS detection and blocking system.