Foodie PH | Globe reports 46% decline in bank-related spam and fraud SMS in H1 2023 | Globe, a leading digital solutions platform, has announced a substantial fall of 46% in the number of scam and spam messages related to banks that have been stopped in its network in the first half of this year.
The most recent information indicates that the number of scam and spam communications relating to banks has decreased to 4.85 million over the period of January to June of this year, compared to 9.06 million over the same period of time in the previous year. Just for the second quarter, the count dropped all the way down to 779,254, which is a significant decrease from the 5.1 million that was reported for the same quarter in 2022.
Scams and spam messages are common methods used by unscrupulous individuals and organizations to obtain personal information from mobile device users. Once cybercriminals have obtained this information, they are able to take control of victims’ internet accounts and steal money from their bank accounts or electronic 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,” said Anton Bonifacio, Globe Chief Information Security Officer.
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.
The previous year, Globe negotiated separate agreements with major banks and entered into a Memorandum of Understanding (MOU) with the Bankers Association of the Philippines (BAP) to promote a more effective alerting mechanism, seamless data-sharing, and speedy filtering of fraudulent activity.
In addition to creating strategic alliances, Globe continually invests in cutting-edge technologies and develops channels in order to streamline the reporting of spam and scam SMS messages and filter them out of its network. These efforts demonstrate the company’s commitment to provide a more secure digital environment for the benefit of its customers.
To learn more about Globe, visit https://www.globe.com.ph/.
