Some money withdrawn in GCash fraud: BSP

Lady Vicencio, ABS-CBN News

MANILA- The Bangko Sentral ng Pilipinas said fraudsters behind the unauthorized cash transfers targeting Gcash users were able to withdraw some of the stolen money. BSP Governor Felipe Medalla noted that while all affected GCash users had their balances corrected, some funds remain unrecovered.“Effectively, GCash is shouldering the difference,” Medalla said. He reiterated that the incident was caused by phishing, not hacking.The central bank chief also said that the security features of local digital payment platforms are satisfactory but consumers need to be vigilant. He said users should not share their OTP or one-time password, because this is the last level of protection. "Kasi kahit mapasok ka, pero hindi mawi-withdraw ang pera kasi ang bangko kailangan ng OTP,” Medalla said. GCash earlier submitted its regulatory report to BSP regarding the incident. “Kung matetrace natin ang may-ari ng accounts na ‘yon, meron pa rin silang pananagutan,” Medalla said.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/business/05/15/23/bsp-palalakasin-ang-kakayahang-maglitis-ng-mga-reklamo-sa-e-payment'>BSP palalakasin ang kakayahang maglitis ng mga reklamo sa e-payment</a></li>	<li><a href='https://news.abs-cbn.com/business/05/09/23/gcash-suffers-glitch-says-no-funds-lost'>GCash says 'no funds lost' despite system glitch</a></li></ul>RELATED VIDEO<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2619418' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

He said users should not share their OTP or one-time password, because this is the last level of protection. "Kasi kahit mapasok ka, pero hindi mawi-withdraw ang pera kasi ang bangko kailangan ng OTP,” Medalla said. GCash earlier submitted its regulatory report to BSP regarding the incident. “Kung matetrace natin ang may-ari ng accounts na ‘yon, meron pa rin silang pananagutan,” Medalla said.<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/video/business/05/15/23/bsp-palalakasin-ang-kakayahang-maglitis-ng-mga-reklamo-sa-e-payment'>BSP palalakasin ang kakayahang maglitis ng mga reklamo sa e-payment</a></li>	<li><a href='https://news.abs-cbn.com/business/05/09/23/gcash-suffers-glitch-says-no-funds-lost'>GCash says 'no funds lost' despite system glitch</a></li></ul>RELATED VIDEO<figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=2619418' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

“Effectively, GCash is shouldering the difference,” Medalla said. He reiterated that the incident was caused by phishing, not hacking.The central bank chief also said that the security features of local digital payment platforms are satisfactory but consumers need to be vigilant.

MANILA- The Bangko Sentral ng Pilipinas said fraudsters behind the unauthorized cash transfers targeting Gcash users were able to withdraw some of the stolen money. BSP Governor Felipe Medalla noted that while all affected GCash users had their balances corrected, some funds remain unrecovered.

 The Bangko Sentral ng Pilipinas said fraudsters behind the unauthorized cash transfers targeting Gcash users were able to withdraw some of the stolen money. 

Some money withdrawn in GCash fraud: BSP | ABS-CBN News

Business

Business

Some money withdrawn in GCash fraud: BSP

Some money withdrawn in GCash fraud: BSP