GCash: Account takeover incidents decline by 70%

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GCash: Account takeover incidents decline by 70%
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GCash, the mobile wallet of Globe Telecom, said account takeover incidents dropped after implementing its double-safe security feature. Gcash chief

GCash, the mobile wallet of Globe Telecom, said account takeover incidents dropped after implementing its double-safe security feature.

Gcash chief technology and operations officer Pebbles Sy said ATO incidents, which happen when the GCash account is accessed without the owner’s permission, went down by 60 percent to 70 percent. Sy attributed the drop to GCash DoubleSafe, a security feature that prevents unauthorized transactions through the use of a selfie scan or additional OTP to make sure the owner is the only one with access to the GCash account on any device.

The feature also looks for the user’s liveness to ensure photos could not be used to bypass the security control. “With 2-factor authentication, a mobile PIN, and Face ID technology, we’re not just guarding your account; we’re ensuring it’s always in the right hands,” said Sy during the Cybersphere Philippines Forum at the Shangri-La at the Fort Hotel hosted by the Department of Information and Communications Technology.

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