The Philippine National Police arrests a suspect behind an online work scam following a successful collaboration with the country’s leading finance app GCash. The scam involves luring a victim to accept online tasks requiring investing money to earn a commission.
The suspect was identified as 21-year-old female Danica Dela Cruz Valdez, a resident of Balayong, Malolos City, Bulacan. Valdez had initially paid the victim for the first milestone to gain trust. With the succeeding tasks, Valdez then required the victim to complete the entire project first before the commission could be given, for which the suspect required more investment money. The victim agreed and sent payment to the suspect's bank accounts. Later, Valdez introduced additional problems involving a crypto account that coerced her victim to send an additional payment, banking on the victim's desire to get paid once and for all. In the end, the scammer collected P314,080 from the unsuspecting victim.
As part of its ongoing initiative to educate the public on how they protect themselves from scams and other financial cyber crimes, GCash continues to remind its users to practice extra vigilance and awareness of the various modes of scams.
"Having millions of users and with the end goal of financial inclusion, online safety tops the priorities of GCash. We remain steadfast in our dedication to ensuring the security and protection of our users. We shall remain faithful to our collaborative efforts with the Philippine National Police in swiftly addressing any scams, fraud, and cybercrime," said GCash mobile wallet operator G-Xchange, Inc. head of legal Atty. Gilbert Escoto.
While intensifying its cooperation with law enforcement authorities, GCash also urges users to be extra vigilant of online scammers and fraudsters. When making transactions on the app, users are reminded never to disclose their MPIN or One-time PIN (OTP). With the rise in phishing incidents, users are strongly advised to never click links, especially from unknown senders.
For help and assistance, contact the PNP-ACG via their hotlines at (02) 8414-1560, 0998-598-8116, or email at acg@pnp.gov.ph
To report scams and fraudulent activities, visit the official GCash Help Center in the app or at help.gcash.com, message Gigi, and type, “I want to report a scam.” GCash will never send private messages to ask for personal information, especially the MPIN and OTP. Customers can also contact the official GCash hotline at 2882 for queries and other concerns.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
