Security
SEC Flags eToro as Unauthorised for Investment Offerings in the Philippines
The Securities and Exchange Commission (SEC) of the Philippines has issued a warning to the public regarding eToro, an online investment trading platform that is not authorised to sell or offer securities in the country. The notice highlights the importance
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BSP Finalising Revised Framework for Money Service Businesses
The Bangko Sentral ng Pilipinas (BSP) is on the verge of finalising a comprehensive new framework to bolster the regulatory standards for Money Service Businesses (MSBs) within the Philippines. This initiative seeks to adapt and refine the regulatory environment, addressing
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Bureau Expands Fraud Prevention Services to Philippines and Indonesia
Bureau, a firm specialising in identity decisioning and fraud prevention, has recently extended its operations into the Philippines and Indonesia. The company says this move underlines its dedication to tackling the challenges associated with fraud and risk prevention in the
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Sumsub Makes Presence at Philippine Fintech Festival 2023
Fintech companies in the Philippines and the ASEAN region are gearing up this week for the Digital Pilipinas Festival from November 20 to 24. This event, known for its valuable networking opportunities and fostering innovative collaborations, serves as a dynamic
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Dynamic Data Streamlines Customer Experience, Fights Fraud in Digital Banking
As the digital economy continues to surge and expand, consumer expectations for fast, secure access to products and services seem never-ending. Furthermore, when it comes to financial services, there is an entire generation of consumers cropping up who have barely
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Fintech Alliance.PH Kicks off National Cybersecurity Education Campaign
Fintech Alliance.PH, the country’s largest association of fintech and digital players, had launched a multistakeholder national cybersecurity awareness and education campaign. The campaign with the aim to educate millions of smartphone and online users against phishing scams had kicked off
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Medalla Says GCash Hit by Phishing Scam, 80% Of Lost Funds Already Recovered
The Bangko Sentral ng Pilipinas’ (BSP) Governor Felipe Medalla said that the recent unauthorised deductions from mobile wallet GCash amounting to PHP 37 million (approximately US$660,000) was the result of a phishing incident and not hacking, according to a report
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GCash Denies Hacking Claims, Adjusts Users’ Balance After Unauthorised Deductions
Philippines’ mobile wallet GCash set out to reassure its 81 million users that no funds have been lost from their app following multiple reports of unauthorised deductions from their personal accounts. Earlier reports said that close to PHP 37 million
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Is Philippines Falling Short of Its PhilSys Digital Identity Ambitions?
This month, the Bangko Sentral ng Pilipinas (BSP) issued the latest rules outlining the minimum digital identification and verification requirements for financial institutions, otherwise known as electronic ‘know-your-customer’ procedures, or e-KYC. Seeking to promote seamless identity verification and customer due
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Navigating Asia Pacific’s Identity Fraud Landscape
Have you ever watched the chilling cult classic “Invasion of the Body Snatchers”? The 1950s alien takeover movie is best remembered for evoking paranoia about the faceless evil lurking within society. Now, 70 years later, this invasion may be more
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