Cryptocurrency Q&A
What is KYC in GCash?
What is KYC in GCash?
Tommaso
Fri Nov 29 2024
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7 answers
1808
GCash, the leading mobile payment platform in Philippines, recently addressed rumors about a potential data breach affecting its KYC system. KYC, short for Know Your Customer, is a verification process crucial for financial institutions to ensure customer identity and security. GCash emphasized that after thorough investigations, no signs of data leakage were found and urged users to regularly update their passwords for added safety.
7 answers
Giuseppe
Sun Dec 01 2024
"Know Your Customer" or "KYC" represents a crucial procedure.
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Elena
Sat Nov 30 2024
The main objective of KYC is to prevent fraud and money laundering.
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Lorenzo
Sat Nov 30 2024
It involves confirming the identity of the User.
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Daniele
Sat Nov 30 2024
This process is mandatory as per the regulations set by the BSP.
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TaekwondoMasterStrengthHonorGlory
Sat Nov 30 2024
By verifying the identity of the User, financial institutions ensure security.
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