Two local technology groups have called on the fintech industry, particularly e-wallet firms, to institute stronger cybersecurity measures and consumer protection in the wake of recent unauthorized fund transactions on the GCash e-wallet platform.
The Bangko Sentral ng Pilipinas (BSP) has instructed GCash to immediately resolve the reported unauthorized deductions on account balances of affected GCash users and swiftly complete the process of refunds.
Kayana Solutions, formerly known as DigiCo, has signed up Accenture Philippines to build a “digital factory” that seeks to accelerate digital product development for the MVP Group.
Before GCash came out with the statement that the issue was caused by “system reconciliation”, Manila Bulletin columnist Arturo Samaniego Jr., who was implicated recently by the National Bureau of Investigation (NBI) as a hacking mastermind, again tried to muddle the issue by claiming in his Facebook post that the losses experienced by GCash users was due to a phishing attack.
The Fiber Network Council APAC (FNC APAC), the region’s organization of broadband and telecommunications industries, held its flagship conference in the Philippines on Tuesday, Nov. 5, focusing on emerging technologies and how fiber-based solutions can propel these further.
DICT secretary Ivan Uy emphasized the urgency for the initiative, as he noted that more than 12,000 complaints related to online transactions were reported in 2022 alone.
The Centric Group has announced the appointment of Edler Panlilio as the new CEO of Appcentric and Infocentric Solutions, marking a significant milestone in the company's journey towards expansion across Asia.
More and more workers are turning to informal online work for a living, but the lack of regulations in the gig economy may leave this work force and companies vulnerable to exploitation, according to a study of the Philippine Institute for Development Studies (PIDS).
