The Bangko Sentral ng Pilipinas (BSP) has initiated an investigation into G-Xchange Inc. (GXI), the operator behind the popular e-wallet GCash, following a wave of user complaints about unauthorized deductions from their accounts.
In a statement, BSP directed GXI to address the issue swiftly and ensure that affected users receive timely refunds. The central bank stated it would assess the incident to identify any vulnerabilities and review regulatory compliance.
Affected users are encouraged to reach out to GXI directly for faster resolution. If issues persist, they may escalate their concerns to the BSP Online Buddy via the BSP website and Facebook page.
GXI has reported that the deductions were due to a system error and assured the central bank that user accounts remain secure. The company confirmed that refund procedures are already in motion. BSP emphasized it is maintaining close coordination with GXI and requires regular updates on the situation to ensure consumer protection.
