Globe Telecom Inc. on Tuesday reported a 46 percent drop in bank-related scam and spam messages in its network in the first half this year.
Latest data show the number of bank-related scam and spam messages falling to only 4.85 million in the January to June period this year, compared to 9.06 million in the same period last year.
In the second quarter alone, the count went down to 779,254, a sharp drop from 5.1 million reported in the corresponding quarter of 2022.
Unscrupulous persons and organizations often use scam and spam messages to extract personal information from mobile users. Once in possession of this data, cybercriminals can hijack online accounts and drain funds from the victims’ bank or e-wallets.
“This decrease in fraudulent messages signifies our steadfast commitment to protecting our consumers from online threats. It is also a testament to the power of collaboration between industry leaders and regulators in curbing cyber fraud,” Anton Bonifacio, Globe chief information security officer, said.
He cited the role of Globe’s strategic partnerships with financial institutions in effectively thwarting fraud.
“Our partnerships with banks and financial institutions have allowed us to implement immediate and effective measures against online fraud, protecting the hard-earned money of our consumers,” Bonifacio said.
Last year, Globe entered into a memorandum of understanding (MOU) with the Bankers Association of the Philippines (BAP) and signed separate agreements with major banks to facilitate a more efficient alerting mechanism, seamless data-sharing, and expeditious filtering of fraudulent activities.
In addition to forming strategic partnerships, Globe consistently invests in advanced technologies and initiates channels to streamline the reporting of spam and scam SMS and filter them out of its network.
