Senator Ramon ‘’Bong’’ Revilla Jr. on Tuesday, May 9, urged the Bangko Sentral ng Pilipinas (BSP) to enforce measures demanding greater transparency and reliability from e-wallet service providers immediately following reports of a "massive and widespread fund loss’’ on GCash accounts which compromised many consumers' access to personal funds. On Monday evening (May 8), many users of digital wallet service provider GCash (operated by G-Xchange, Inc.) started to storm different social media platforms airing their grievances about some unauthorized transactions on their respective accounts resulting in depleted balances. Revilla cited complaints that affected GCash accounts reflected unauthorized online fund transfers to various accounts in different banks. Up to Tuesday afternoon, many users are still unable to access their accounts. “Hanggang sa oras na ito, wala pang malinaw na paliwanag na ibinibigay ang GCash (GCash has not given a clear explanation) . Hindi pwede yan (That is not enough). Dapat malaman ng mga users kung ano talaga ang nangyari dahil pera nila yan e (Users want to know what really happened to their money). Pinaghirapan nila yan (They worked hard for it) Hindi sapat na nagbigay lang sila ng statement na basta ibabalik lang ang nawalang mga pera (An explanation is not enough, GCash has to return their money). Kung hindi na-hack, eh ano ba talaga nangyari? (If it was not hacked, what really happened?). Bakit napunta sa piling mga bank accounts? (Why did their money go to other bank accounts?).  Masisiguro pa ba natin na ligtas ang mga pera natin? (Can we really  be sure that our money is safe?),’’ Revilla asked. “Kawawa yung mga kababayan natin (Pity our countrymen). Kung kailan kailangan nila yung pera nila, at saka biglang nawala (Just when they needed it most, it is now gone).  Eh paano kung may pinaglalaanan sila na kailangan mabayaran agad (They saved their money end now it is gone),’’ he said. He expressed concern to those gravely affected by the situation, especially Filipinos who immediately need to access their funds on the e-wallet. Revilla also emphasized that corporations vested with public interest have a fiduciary duty to the public that they serve. “Dapat sinisigurado ng financial institutions katulad ng mga digital wallet providers na laging protektado at ligtas ang mga pondo na nilalagak ng publiko sa kanila (Financial institutions such as digital wallet providers are always protected and funds deposited by the public are protected). May fiduciary duty sila eh (They have fiduciary duties). They should exercise the highest degree of diligence para hindi nangyayari ang mga katulad ng nangyari nitong nakaraan  (so that the recent fiasco would not be repeated),’’ he explained. Some users reported losing as much as P70,000 on their GCash accounts during the incident. Several victims also reported that as many three  unauthorized transactions occurred in their accounts in just a span of a few hours.