HOUSE Deputy Minority Leader and Bagong Henerasyon party-list Rep. Bernadette Herrera has pushed for a congressional inquiry into digital wallet transactions following a spate of unauthorized money transfers involving GCash.
It comes after several users experienced unauthorized GCash transfers ranging from P1,000 to P2,000 in the past few weeks, which the e-wallet platform blamed on a technical issue regarding its “Send Ang Pao” feature and its system reconciliation process.
GCash assured its users that hacking or phishing was not involved in the incident.
In a statement on Tuesday, Herrera said that the latest incident mirrors a similar breach that happened in May 2023 where many GCash users discovered unauthorized deductions from their accounts, causing financial inconvenience and raising concerns over the platform’s security protocols.
“With millions of Filipinos relying on digital wallets for daily transactions, it is critical for Congress to probe the security and regulatory framework surrounding financial technology (fintech) services,” Herrera said.
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