Connect with us

Hi, what are you looking for?


NPC blames GCash deductions on phishing

PRIVACY watchdog National Privacy Commission (NPC) said the reported unauthorized transactions involving electronic payment firm GCash had been caused by phishing attacks.

“Upon our thorough investigation, we have determined that the unauthorized transactions in GCash accounts were a result of a meticulous phishing scheme,” Privacy Commissioner John Henry D. Naga said in a statement on Wednesday.

“Unknown threat actors took advantage of vulnerable GCash users, triggering the phishing scheme through online gambling websites,” he added, identifying the sites as Philwin and

On May 8, GCash customers reported unauthorized deductions from their digital wallets. After it received user complaints, GCash announced that any deduction from an account would be adjusted. It reminded users to never share their one-time pins (OTPs) and mobile banking identification numbers (MPINs).

The digital payment app also disclosed that it is continuing to improve its security mechanisms such as facial recognition, aside from the OTP and MPIN authentication levels.

The NPC’s complaints and investigation division started its “independent investigation” on May 9 to check the extent of the alleged unauthorized transactions and to establish if there were violations of the Data Privacy law.

“On May 12, the NPC held a clarificatory meeting with GXI, providing information gathered from their internal investigation and outlining the measures taken to address the incident,” the commission said, referring to G-Xchange, Inc.

“The NPC raised concerns and requested additional information and proof from GXI to enable the conduct of an independent assessment and verify the company’s claims,” it added.

“Subsequently, on May 19, GXI submitted its compliance with the orders issued by the NPC,” it said.

After the investigation, the NPC ordered GXI, the company managing GCash, to boost its client education and awareness efforts to prevent similar incidents in the future.   

“We assure the public that the NPC remains resolute in its mandate to safeguard the rights of data subjects and protect personal information. We will employ the full extent of our powers under the law to penalize those who violate the Data Privacy Act of 2012,” Mr. Naga said. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



By Keisha B. Ta-asan, Reporter INFLATION likely slowed for a fourth straight month in May due to favorable base effects and a decline in...


By Luisa Maria Jacinta C. Jocson, Reporter THE NATIONAL Government’s (NG) debt service bill more than doubled in March from a year ago, data...


INVESTMENT APPROVALS by the Board of Investments (BoI) more than doubled as of mid-May, led by renewable energy projects. The Board of Investments (BoI)...


THE DEPARTMENT of Finance’s (DoF) Privatization and Management Office (PMO) is targeting to dispose of at least 143 properties worth P2.5 billion for the...


ACEN Corp. has secured approval from the government of New South Wales to increase the capacity of its battery energy storage system in Australia....


LOPEZ-LED Energy Development Corp. (EDC) is further expanding its geothermal power generation capacity in the Philippines with two prospects scheduled for drilling next year,...

You May Also Like


Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...


The number of small businesses planning to increase prices to their customers is set to rise dramatically this quarter, further fuelling inflationary pressures. A new quarterly analysis of...


THE MARCOS administration’s plan to revive the Philippine Sugar Corp. (PHILSUCOR) has raised concerns from stakeholders, who said this may duplicate other agencies’ existing...


By Kyle Aristophere T. Atienza, Reporter AROUND eight out of 1,000 Filipinos are “modern slaves,” according to a global index that tracked populations’ vulnerability...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.