BSP launches GCash investigation over unauthorized deductions

The Bangko Sentral ng Pilipinas (BSP) has launched an investigation into G-Xchange Inc. (GXI), the operator of GCash, following numerous complaints from users reporting unauthorized deductions on their e-wallet accounts.

- KEISHA TA-ASAN

In a statement, the central bank said it has instructed GXI to swiftly resolve the reported unauthorized deductions from users' accounts and ensure refunds are completed without delay.

"The BSP will investigate the incident further to identify possible vulnerabilities and review compliance with regulations and policies," the central bank said.