Philippine Information Agency NCR

BSP investigates unauthorized transfers on GCash

 


by: Jenny Red

MANILA, (PIA) — The Bangko Sentral ng Pilipinas (BSP) has confirmed that it is investigating recent reports of unauthorized transfers affecting users of the e-wallet application GCash.

The BSP has directed GCash operator G-Xchange, Inc. (GXI) to promptly address the incidents involving unauthorized transfers from users’ accounts and to expedite refunds for affected customers.

GXI has also been required to provide regular updates regarding the steps it will take in response to this issue.

GXI, for its part, has attributed the incidents to a systems error, assuring users that their accounts remain secure.

The company has already begun processing refunds for those whose balances were impacted.

In addition to GXI’s actions, the BSP said it will conduct further investigations to identify any potential systemic issues within the e-wallet platform, as well as to ensure compliance with relevant regulations and policies.

BSP advises affected users to contact GXI directly to expedite the resolution of their complaints. Complaints can also be submitted to the government through the BSP Online Buddy (BOB) on Facebook Messenger or via the BSP website at www.bsp.gov.ph(JR/PIA-NCR)

(Photo courtesy: We Are GCash Facebook page)

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