Netizen loses P64K in GCash-GLoan modus. Here’s how the scam works

There’s a new scam targeting GCash users and they don’t even have to have thousands of pesos in their e-wallet to end up in debt.

Facebook user Nic Ang shared how she lost P64,000 to a syndicate who made her believe that it is blocking attempts to access money from her GCash account.

“They will send money requests transactions real time and they will cancel the transaction pretending that they ‘blocked’ it,” she wrote.

“Once they gained your trust they will tell you that they need the OTP to cancel the transactions being made by the fraudster. Once you gave the OTP for the loan transactions they will confuse you with a send money request w the same amount and then they will send a cancellation message),” Ang added.

Unbeknownst to Ang, the fraudsters were able to log on to her account from a different device because of the OTP she provided.

With access to her personal information and settings, the scammers took out P64,000 from Ang through GCredit and siphoned the money off via ShopeePay so the transaction is no longer reversible.

“THESE ARE WELL TRAINED INDIVIDUALS. I can even hear sa background other agents. It seems like a call center of fraudsters. I may not be able to recover the amount, but im hoping I will educate more people,” she added.