Act Gabriela Women’s Party Representative Arlene Brosas today demanded accountability from GCash following numerous reports of unauthorized transactions and fund losses from its users, proving that the SIM Card Registration Act has failed to protect consumers from scams and fraud.

“We demand GCash to immediately return the stolen funds to affected users and explain how these mass unauthorized transactions happened despite their supposed security measures. This is unacceptable especially since many Filipinos rely on e-wallets for their daily transactions and family expenses,” Brosas said.

The lawmaker emphasized that the incident exposes the ineffectiveness of the SIM Card Registration Act, which was marketed as a solution to cyber fraud but has instead potentially created more vulnerabilities through massive data collection.

“Dapat ibasura na ang SIM Card Registration Act. It has clearly failed to prevent scams and fraud. Instead, it has made millions of Filipinos vulnerable to data breaches while their hard-earned money remains at risk. What we need is stronger regulation of fintech companies and better consumer protection mechanisms,” she stressed.

“We call on the Bangko Sentral ng Pilipinas and other relevant government agencies to investigate GCash’s security protocols and impose appropriate penalties if found negligent. Women and ordinary citizens should not bear the burden of corporate negligence and ineffective government policies,” Brosas ended.