Manila: Senate Deputy Minority Leader Risa Hontiveros has taken a proactive step by filing a resolution aimed at investigating the recent surge in unauthorized transactions and scams that have plagued mobile financial services. This initiative is part of a broader effort to ensure the safety and security of users within the fintech sector. According to Philippines News Agency, Senate Resolution No. 1234, filed by Hontiveros on Wednesday, seeks to review and potentially revise existing regulations governing the financial technology sector. The goal is to ensure greater stability, transparency, and public trust in these services, which have become integral to the daily lives of millions of Filipinos. With GCash alone hosting an estimated 76 million users and facilitating transactions worth PHP6 trillion in 2022, the significance of mobile financial services to the economy and financial inclusion cannot be overstated. Hontiveros highlighted various incidents, including unauthorized transfers and phishing attac ks targeting users of fintech services, underscoring the urgent need for updated policies. She emphasized the importance of holding mobile financial service providers accountable and ensuring the protection of users' earnings, especially for those who are 'unbanked' and rely heavily on digital wallets. The senator called for legislative action to protect every Filipino utilizing these services against scams, hacking, and other irregularities. She pointed out the absence of a legislative framework designed to ensure the fintech sector's stability and transparency, while also promoting public trust and inclusion. Hontiveros concluded by stressing the necessity of enhanced regulatory oversight to assure Filipinos that their money remains secure, even in the digital realm.