𝐒𝐄𝐂 𝐚𝐧𝐝 𝐆𝐂𝐚𝐬𝐡 𝐬𝐢𝐠𝐧 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐨𝐦𝐛𝐚𝐭 𝐬𝐜𝐚𝐦𝐬 𝐚𝐧𝐝 𝐟𝐫𝐚𝐮𝐝
𝐒𝐄𝐂 𝐚𝐧𝐝 𝐆𝐂𝐚𝐬𝐡 𝐬𝐢𝐠𝐧 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐨𝐦𝐛𝐚𝐭 𝐬𝐜𝐚𝐦𝐬 𝐚𝐧𝐝 𝐟𝐫𝐚𝐮𝐝 The Security and Exchange Commission (SEC) and the Philippines’ leading finance super app GCash have signed a memorandum of agreement (MOA) to join forces in going after perpetrators involved in online fraud, e-scams, and other cybercrimes. Under the agreement, GCash will assist and cooperate with the SEC in investigating financial fraud crimes by providing relevant information and data in accordance with prevailing laws, rules, and regulations. As more and more Filipinos embrace the digital space for their daily transactions and investments, the country has witnessed a concerning rise in online scams, investment fraud, and various cybercrimes in recent years. The Securities and Exchange Commission (SEC) and the Enforcement and Investor Protection Department (EIPD) noted that victims of these cybercrimes typically use online money transfer services, such as e-wallets, for their tra...