The Bangko Sentral ng Pilipinas (BSP) has launched an investigation into reports of unauthorized deductions from GCash user accounts, aiming to identify security vulnerabilities and ensure compliance with regulations.
A statement released by the central bank on Monday directed G-Xchange Inc. (GXI), the operator of the popular e-wallet platform GCash, to take immediate action. The directive demands GXI to resolve the unauthorized deductions affecting user accounts and expedite the refund process for impacted users.
GXI was also directed to regularly update the BSP on their actions to address the issue.
According to the BSP, GXI has assured them that all accounts are secure and refunds are underway. GXI is also working with law enforcement agencies to investigate the incident.
The BSP is urgng affected users to contact GCash directly for immediate resolution. If you’re unsatisfied with GCash’s response, you can escalate your concerns to the BSP Online Buddy (BOB) through their Facebook Messenger (@BangkoSentralngPilipinas) or website (www.bsp.gov.ph).
