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Investigation sought as complaints of Gcash unauthorized transactions spike

Digital Pinoys

A network of digital advocates urged today fintech app Gcash to investigate complaints against unauthorized transactions.

Digital Pinoys national campaigner Ronald Gustilo said that numerous netizens were posting in various social media sites about unauthorized Gcash transactions, alleging that the app is unsecured.

“GCash should investigate these complaints and take steps to increase the security level of the Gcash app. The growing number of complaints regarding unathorized transactions due to accounts being compromised and lax GLoan and GGives requirements is alarming.”

Gustilo said that most of the complainants said that transactions were made despite not receiving any One-Time Password (OTP) request. According to them, they only receieved a transaction confirmation message.

“Gcash should evaluate their account security protocols since there are allegations that cybercriminals have found a way to circumvent the app’s current security features. Also, the fintech giant should consider making loan and installment service requirements more secured by requiring proof of identification.”

Loan amnesty sought

Gustilo also urged Gcash to implement a loan amnesty program for subscribers victimized by unathorized transactions, as he reminded the public to ensure that all accounts, devices and identification documents are secured at all times.

“We are urging Gcash to forgo the charges incurred by account holders if it will be proven that the transaction is unauthorized. We also remind the public to secure all your financial and social media accounts, the devices where these apps are used and your personal identification documents to bolster account and identity security and privacy.”

Reference: Ronald Gustilo, Digital Pinoys National Campaigner, www.digitalpinoys.org

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