GCash Uncovers Unauthorized Transaction Root Cause

GCash Uncovers Unauthorized Transaction

Brogosil Business - GCash recently addressed concerns over unauthorized transactions on its platform, explaining that a technical issue, not a data breach, led to unapproved fund movements for some users. This problem was initially reported by affected account holders, who noticed unexpected deductions from their balances. GCash assured the public that no user credentials or sensitive data were compromised. The company began issuing refunds and worked with the Bangko Sentral ng Pilipinas (BSP) to ensure prompt resolution for affected users.

In response to these incidents, the National Privacy Commission (NPC) initiated an independent investigation to verify GCash's claim that there was no data breach. The NPC’s investigation will assess compliance with the Data Privacy Act and confirm the security of users' personal data. This comes as the BSP also monitors GCash’s actions, requiring consistent updates on the issue to protect account holders' funds.

Affected users are encouraged to report unauthorized transactions to GCash’s support and to follow recommended security practices, such as updating MPINs and reviewing linked accounts​

Source: GCASH HELP CENTER  MANILA STANDARD  PHILSTAR