GCash Parent Mynt Cautions Against Fake Share Pre-Sales

The parent company of GCash, Mynt, has released a public advisory regarding illegal investment schemes currently circulating online.

The financial technology firm is warning individuals to avoid and report any social media posts or messages claiming to offer “early access” or a “pre-sale” of its corporate shares.

According to the company, no public offering of its stock has been authorised to date.

Mynt clarified that it has not submitted any official filings to either the Philippine Securities and Exchange Commission (SEC) or the Philippine Stock Exchange.

Consequently, any advertisements or communications suggesting an ongoing share sale are entirely fraudulent and unauthorised.

The company noted that if it ever decides to offer securities, it will do so in strict compliance with applicable laws and regulations.

In response to these scams, the firm is urging consumers to maintain a high level of vigilance.

The company strongly advises the public against clicking on suspicious links and urges everyone never to transfer funds or share personal information with unverified entities.

Mynt also encourages individuals who encounter these fake share offerings to report the incidents immediately.

Users can file complaints through the official GCash Help Center within the mobile application or by messaging the customer support bot, Gigi, via the official help website.

Furthermore, the public can directly escalate these fraudulent activities to the SEC Enforcement and Investor Protection Department.

Featured image: Edited by Fintech News Philippines based on an image by eakkachaihalang via Freepik.

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