RA 11930, or the ‘Anti-OSAEC (Online Sexual Abuse and Exploitation of Children) and Anti-CSAEM (Child Sexual Abuse or Exploitation Materials) Act’, which was authored by women empowerment advocate Senator Risa Hontiveros, is a legislation that can be further boosted by updating the Anti-Money Laundering Law (AML), which will help combat cyber threats against the youth. This was the central message of GCash chief compliance officer Atty. Cef Sison during a panel discussion comprised of the country’s top industry leaders.
“RA 11930 is a powerful legislation that can fight OSAEC. We are bound by duty under this law to report to the Department of Justice (DOJ) within 24 hours any discovery of OSAEC activities on our platform and to the Anti-Money Laundering Council (AMLC) within five days. We are also bound by duty to provide financial documents and information upon order of the court when it has been established that there is reasonable ground that the transactions are in violation of RA11930,” said Sison during an anti-OSAEC forum that gathered public and private stakeholders, including Senator Risa Hontiveros.
On the more technical side, Sison said that GCash is currently exploring generative artificial intelligence to chase after perpetrators. Sison established that the traditional AML parameters are no longer sufficient to keep up with the speed and volume of online transactions. Furthermore, she said perpetrators are becoming more creative and could already be using generative AI for their malicious activities.
“We need to process individuals with generative AI to keep up with the fast pace of new users and transactions,” explained Sison.
Sison also mentioned that perpetrators are abusing their rights to data privacy, but the principles of law negate this right if the safety of innocent people is threatened.
“GCash is one with the nation in ensuring the safety and security of everyone in our quest for financial inclusion,” concluded Sison.
Earlier this November, GCash joined Quezon City Mayor Joy Belmonte and Senator Risa Hontiveros at the Anti-Online Sexual Abuse and Exploitation of Children Conference (Anti-OSAEC Conference) held at the Novotel in Quezon City in celebration of National Children’s Month. The conference was organized by the Municipal Government of Quezon City, the Center for the Prevention and Treatment of Child Sexual Abuse (CPTCSA), the Philippine Children’s Ministries Network (PCMN), and the Mission Alliance (MA) with the support of the Royal Norwegian Embassy in Manila and Plan International Philippines. Other industry players in the panel included Globe Telecom and PLDT.
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About GCash
GCash is the Philippines’ #1 Finance Super App. 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 which is a part of the country’s leading digital solutions platform, Globe Group.
GCash is a staunch supporter 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:
Gilda Maquilan
VP and Head of Corporate Communications
GCash
Email Address: corpcomm@gcash.com ¦ Facebook: http://www.facebook.com/gcashofficial