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Manila Bulletin devider Philippines devider National devider Lady solon seeks House probe on GCash 'unauthorized transactions', says she was a victim too

Lady solon seeks House probe on GCash 'unauthorized transactions', says she was a victim too

Published May 10, 2023 06:33 am
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The House of Representatives is being urged to look into the alleged unauthorized transactions involving popular mobile wallet service GCash last Tuesday, May 9. House Deputy Minority Leader and Bagong Henerasyon (BH) Party-list Rep. Bernadette Herrera filed filed for this purpose House Resolution (HR) No.963. “It is the duty of Congress to protect the interests and welfare of the Filipino people and ensure that digital platforms like GCash operate within the bounds of the law,” Herrera said in HR  No.963. Apparently, Herrera was also one of the GCash users affected by the alleged unauthorized transactions, which promoted the provider to conduct preventive maintenance on the mobile app. On May 9, some GCash users experienced unauthorized deductions from their accounts, causing financial harm and inconvenience to them. GCash, a financial application operated by G-Xchange Inc., is a widely-used digital wallet service in the Philippines, with over 79 million registered users relying on the platform for various financial transactions, including the payment of utility bills. GCash has apologized for the temporary downtime and assured users that their funds were safe. It has also acknowledged the unauthorized deductions and is currently investigating the matter. However, Herrera said that the extent of the unauthorized deductions in terms of the amount and the number of accounts involved has not been disclosed. She noted that the unauthorized deductions from GCash accounts were said to have been transferred to accounts under East West Banking Corp., which has initiated its own internal investigation and is cooperating with authorities and other institutions involved in the matter. Herrera asked the appropriate House Committee to conduct a hearing in aid of legislation and invite officials of GCash, G-Xchange Inc., Mynt, Globe Telecom Inc., the Ayala Corp., and Ant Financial to provide an explanation on the nature, scope, and cause of the unauthorized deductions, as well as their plans to address the issue and prevent its recurrence. She also wants the House to solicit the views and recommendations of the relevant government agencies, such as the Bangko Sentral ng Pilipinas, the Department of Trade and Industry, and the National Privacy Commission, on the matter and their plans to regulate digital payment platforms to prevent similar incidents in the future.

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GCash Rep. Bernadette Herrera Bagong Henerasyon (BH) Partylist
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