The Bangko Sentral ng Pilipinas (BSP) is now looking at the recent reports of unauthorized fund transfers affecting GCash accounts, with funds said to have been forwarded to other local lenders.
According to BSP Deputy Governor for the Payments and Currency Management Sector Mamerto Tangonan, the recent set of incidents have already been reported by G-Xchange Inc. , which operates GCash.
GCash — which currently has over 79 million users — is registered as a non-bank financial institution electronic money issuer . It is a wholly-owned subsidiary of Mynt , which is in turn a partnership between Globe Telecom Inc., the Ayala Corp., and Ant Financial.of its system, as it said it extended its scheduled maintenance to investigate the reported unauthorized fund transfers. It said there was no hacking that happened.as of 3 p.m.
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