"Wag Magpaloko Maging Scam Alerto": PH fintech players rally behind campaign vs fraud

6th from left: FintechAlliance.ph founding chairman Lito Villanueva, GCash president and CEO Martha Sazon, BSP governor Felipe Medalla, and Globe Group president and CEO Ernest Cu, together with the members of the FintechAlliance.ph

As part of its campaign to combat fraudulent activities such as phishing scams, members of FintechAlliance.ph rallied behind the launch of the Nationwide Consumer Cybersecurity Awareness and Education Campaign Against Scams, "'Wag Magpaloko Maging Scam Alerto!"


Launched on May 29, 2023, during the Fintech Alliance Ph's General Membership Meeting, the campaign gained support from the Bangko Sentral ng Pilipinas (BSP), the Department of Information and Communications Technology (DICT), the Philippine National Police (PNP), and the National Bureau of Investigation (NBI).


FintechAlliance.ph is the Philippines’ leading digital and fintech association that accounts for over 90% of the country's digitally-initiated financial transactions with close to 100 corporate members.


“We are coming together as a united industry against phishing and other cybercrimes – which has been an urgent issue not just here in the Philippines but also globally. In order to build an inclusive digital economy, we need to reinforce trust and confidence by arming users with the right information and working closely with the PNP and the NBI. This is a shared responsibility not just among alliance members but also along with regulators, law enforcers, media, and the consumers,” said Fintech Alliance PH founding chairman Lito Villanueva.


Among the members of the FinTech Alliance.ph which committed to aggressively promote the industry-led cybersecurity education initiative include GCash, Maya Bank, UNO Digital Bank, Grab, RCBC, CIMB, Palawan Pay, Cebuana Lhuillier, P.J. Lhuillier, Alibaba Cloud, AllEasy, Asialink, Avaloq, Ayannah, Bank Genie, Betur, Brankas, BTI Payments, Bukas, Card MRI, CIBI, CIS Bayad Center, CRIF, Cyfirma, Food Panda, Digido, Direct Agent 5, Disini Law, Finantier, Finscore, BillEase, Geniusto, Gorriceta Law, Home Credit, HT Financial, iMoney, Investagrams, Investree, IT Group, KwikTech, Manulife, Novare, Moneyguru, Mount Fuji Lending, Multisys, NATCCO, and Netbank. Other key fintech players like Amazon, Cashalo, True Money, Xendit, Netcore, OF Bank, Paymongo, PeraHub, MOCASA, 7-Eleven, Pru Life UK, Rockbird, Salesforce, SAVii, SeedBox, SeedIn, Share Treats, Smart, Sun Life, Tala,  InLife, Togetech, TransUnion, Traxion, Vesta Payment also threw their support for the campaign.


“I am proud to see everyone working hard to make the Nationwide Consumer Cybersecurity Awareness and Education Campaign an effective and invaluable tool in helping accelerate the Philippines’ digital economy. You can count on the BSP to be a staunch supporter of this project. We will continue to work hand in hand with all of our stakeholders and ensure the far-reaching impact of this campaign,” BSP governor Felipe Medalla said.


Aside from the BSP, key officials from cybersecurity enforcement agencies were on hand during the launch led by NBI-CCD Chief Atty. Jeremy Lotoc and PNP-ACG Spokesperson P/Capt. Michelle Sabino.


“We at the PNP-ACG, are committed to help the FintechAlliance.ph promote its cybersecurity campaign to protect and safeguard our countrymen against cybercrimes”, said Sabino.


United under the Alliance, Philippine fintech players are keen on demonstrating their commitment to driving financial inclusion in the country.