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NPC says phishing assaults were to blame for the GCash incident.

On Wednesday, the National Privacy Commission (NPC) concluded that phishing scams, rather than security flaws with the mobile wallet provider, were to blame for the unlawful transactions involving many GCash accounts.

Privacy Commissioner John Henry Naga claimed in a statement that “unknown threat actors” exploited GCash customers by using online gaming portals like “Philwin” and “tapwin1.com.”

“Following a careful phishing scheme, we have found that the unauthorized transactions in GCash accounts were the result,” Naga stated.

On May 9, the Complaints and Investigation Division (CID) of the NPC opened an investigation to see whether any personal data had been compromised and whether there had been any other possible violations of data privacy.

The NPC and G-Xchange, Inc. (GXI) held a clarifying meeting where the former highlighted concerns and the latter presented additional data and supporting documentation in support of the conduct of an impartial evaluation.

Last Friday, May 19, GXI presented a compliance statement in response to NPC directives.

According to Naga, we have mandated that GXI step up its customer education and awareness campaigns to prevent future occurrences of this nature.

He reaffirmed the NPC’s commitment to fostering a secure online environment and warned the general public to look for phishing scams that could jeopardize personal information.

He declared, “We will use every legal tool at our disposal to hold those who violate the Data Privacy Act of 2012 accountable.”

When numerous consumers discovered fraudulent withdrawals from their accounts on May 9, GCash announced a brief “downtime” of their service.

Governmental organizations, including the NPC and the Bangko Sentral ng Pilipinas, have since started their investigations into the incidents.

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