GCash, the country’s largest mobile payments service, said on Thursday that its popular electronic wallet is fully operational and that no disruptions have been experienced, nor are any clients’ funds missing.
The cybersecurity incident involved a personal data breach affecting Jollibee and several of its subsidiaries, the company said in a disclosure to the Philippine Stock Exchange.
For many years, the national approach of the Philippines to cyberthreats often highlighted reactive rather than proactive strategies. That could now change with the implementation of a new national policy. But it remains to be seen if the official mindset will make that important shift.