Bangko Sentral Orders GCash Operator To Address Unauthorized Withdrawals

The Bangko Sentral ng Pilipinas (BSP) has instructed G-Xchange, Inc. (GXI), operator of the GCash e-wallet, to urgently resolve reported unauthorized deductions from affected users' accounts and expedite the refund process.

GXI has confirmed to BSP that the incident was due to a system error, assuring that user accounts remain secure. I Photo: UXDA

GXI has confirmed to BSP that the incident was due to a system error, assuring that user accounts remain secure.

The BSP is closely monitoring the situation and will conduct an investigation to identify potential vulnerabilities and ensure regulatory compliance. Affected GCash users are advised to contact GXI for immediate assistance and may escalate complaints to BSP’s Online Buddy (BOB) if necessary.