Metro Manila (CNN Philippines, May 11) — Justice Secretary Jesus Crispin Remulla said he believes that popular mobile wallet service GCash may not be held liable for cybercrime violations if it was able to fix the reports of unauthorized cash deductions from users’ accounts.
“I think they’re correcting it already… It could be subjected to a cybercrime if it is not rectified immediately,” the justice chief said in a media briefing on Wednesday.
When asked if GCash will not be held accountable if it was able to rectify the situation, he replied, “I don’t think they can be liable because glitches are expected, but rectification is more expected also.”
On Monday, several users reported on social media that sums of money in their accounts were funneled to bank accounts without their permission through the request for one-time passwords.
GCash on Tuesday acknowledged that some customers have experienced a deduction in their accounts, but it assured that there was no hacking involved.
It also said the e-wallets of affected users have been adjusted by that afternoon, reiterating no funds were lost.
Senator Win Gatchalian on Thursday urged GCash and other financial technology platforms to proactively ensure that its customers are sufficiently protected from hacking, fraud, and other cybercrimes.
“Incidents like this diminish the confidence of consumers not only in using and adopting fintech in their daily transactions but also in the country’s financial system in general, which could potentially impede economic growth,” he said.
