The Philippine Securities and Exchange Commission (SEC) and finance superapp GCash have renewed a Memorandum of Agreement (MOA) to intensify their joint campaign against financial cybercrime and other illicit financial activities.

First formalized in September 2023, the partnership enables close coordination between the SEC Enforcement and Investor Protection Department (SEC-EIPD) and GCash during investigations into online fraud, illegal investment solicitation, unlawful lending, and other offenses. Renewing the agreement signals that both sides treat regulator–platform coordination as a standing mechanism rather than a one-off arrangement.

"Maintaining a secure digital environment and protecting the public from financial crimes requires strong coordination between regulators and digital platforms. Our continued partnership with GCash strengthens the SEC's capacity to respond promptly and effectively to emerging threats, facilitate the exchange of relevant information, and pursue appropriate enforcement action against individuals and entities that exploit the public through fraudulent and unauthorized investment schemes," said SEC Commissioner Rogelio Quevedo.

The renewed agreement forms part of GCash's ongoing efforts to shield users from harm by supporting authorities in detecting, investigating, and addressing suspected illegal activities involving the platform. In practice, the arrangement connects two layers of protection: suspicious activity that surfaces on a consumer-facing platform and the SEC's authority to investigate and act against the individuals and entities behind fraudulent schemes.

"Upholding public safety is a commitment we share with the SEC, and this renewed partnership enables GCash to work more closely with regulatory and enforcement agencies when it comes to preventing the misuse of our platform," said Oscar Enrico Reyes, Jr., President and CEO of G-Xchange, Inc. (GXI), the mobile wallet operator behind GCash.

With fraudsters continually devising ways to deceive consumers, public vigilance remains a critical line of defense against financial cybercrime. The SEC and GCash urged the public to verify, before transacting, whether prospective investment or lending entities hold valid licenses from official regulatory bodies such as the SEC or the Bangko Sentral ng Pilipinas (BSP). Investment offers promising "guaranteed," risk-free returns, aggressive recruitment schemes, or loan offers demanding upfront "processing" fees should be treated as immediate red flags. License verification is also a preventive step consumers can take on their own before any funds move, complementing the reporting channels that come into play after an incident.

GCash also reminded users to protect their accounts by never disclosing sensitive credentials, including passwords and MPINs. The superapp stressed that it does not send messages containing links, and advised customers never to open links sent through SMS, email, or third-party messaging apps.

To stay safe when transacting online, customers are encouraged to report suspicious activities or unauthorized transactions immediately through the GCash Help Center in the app or on its website, via the Gigi chat support feature, or by calling the GCash hotline at 2882. Scam incidents may also be reported to the Philippine National Police Anti-Cybercrime Group by email at acg@pnp.gov.ph.

GCash continues to work closely with regulatory and enforcement agencies to keep digital financial services a safe and trusted channel for all Filipinos. Additional guidance is available through the GCash Help Center.