DIGITAL media provider GCash said that they will be setting up a rapid incident response mechanism against fraud and other cybercrimes on the platform.

A Memorandum of Agreement was signed by GCash with the Department of Information and Communications Technology's Cybercrime Investigation and Coordinating Center (CICC). 

"The collaboration puts together [a] rapid incident response mechanism so the public can be protected in time," DICT Secretary Ivan John Uy said.

Likewise Uy noted that there will be instances to which the response to victims of online fraud may take up to two weeks due to lack of coordination.

"We are taking preemptive action today. If it's immediately reported to our hotline, our investigators will alert GCash and we will pay attention," Uy said.

Also, GCash said that they aim to respond to fraud in real-time.

However they said that it will be on a case-to-case basis.

Both the CICC and GCash said they have been working with the mechanism for a year.

"It's all about data protection and data privacy, and it needs to be multisectoral and multifactor. We need to start first with awareness," according to Winsley Royce Bangit, GCash's Head of New Businesses, Corporate Affairs, and Sustainability.

Meanwhile, the CICC had reminded victims of online fraud to immediately report problems to the agency and other concerned entities.

Many victims often resort to social media.

"[The] problem is the people are not reporting. They report on social media. They have to report to the government so we can create the right policies," said CICC Usec Alexander Ramos CICC.

"To get your money back, you don't go to social media. You go to GCash. Can you get your money back? Report!" he added.