E-wallet provider GCash said on Saturday, May 13, that the app is on extended preventive maintenance to allow the company to ensure that it has exerted all means necessary to mitigate the “deliberate phishing attempt” launched against it this week.
Users of the app have reported that their transactions did not proceed or that the platform was still inaccessible a few days after a massive outage left subscribers grappling for answers.
“We reiterate that there was no hacking nor glitch that occurred in the GCash platform. The incident last 8 May 2023, was a deliberate phishing attempt that happened outside of the GCash app,” the company said in a statement.
“Some users may have unknowingly shared their information to suspicious sites masked as legitimate brands or institutions. Upon detection of these unusual transactions, GCash immediately activated security protocols, and deployed its preventive security measures. This swift action enabled us to mitigate the impact to our customers, which was why we were able to correct their e-wallet balances immediately within 24 hours,” it added.
The e-wallet provider said “no preventive measures are too much if it is meant to protect all hardworking customers that placed their trust on GCash.”
These proactive efforts, it stressed, help deter more users from being victimized by illegal phishing activities. “These measures are in compliance with global cybersecurity standards and in line with our commitment as a financial services provider regulated by the BSP,” it said.
According to the company, it is in constant coordination with the authorities and regulatory bodies like the Bangko Sentral ng Pilipinas (BSP) and the National Privacy Commission (NPC) in providing the necessary information regarding the incident.
“In partnership with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) and the Cybercrime Investigation and Coordinating Center (CICC) and the National Bureau of Investigation (NBI), we continue to intensify efforts in going after scammers and fraudsters.”
“We will not stop working with the authorities as we endeavor to eliminate fraudsters as our common enemy. To safeguard your information, we remind everyone to transact only through our official channels and remember that GCash will NEVER send personal messages to address concerns or ask for your MPIN, OTP or other personal information,” the company said.