Globe has made a significant achievement in fighting financial scams. They managed to reduce the number of scam text messages related to banks by a whopping 85%. This is based on data from the first nine months of 2023 and it’s all thanks to strong partnerships with big banks and financial companies in the Philippines.
From January to September in 2023, Globe blocked over 7 million scam and spam text messages that were pretending to be from banks. This is a huge drop from the 49.3 million scam messages they stopped during the same time in 2022. Their success is due to working closely with the Bankers Association of the Philippines and other important players in the finance industry. These partnerships allowed them to share information quickly and better prevent fraud.
Anton Bonifacio, the person in charge of keeping Globe’s information safe, said that working with banks and financial institutions has been really effective. He explained,
Our partnerships with various banks and financial institutions, aimed at enhancing fraud detection and prevention have been highly effective, as evidenced by the steep decline in blocked spam and scam SMS related to banks. This progress underscores the impact of our joint initiatives in safeguarding consumers against financial fraud.
Even though there aren’t official rules in place like in Singapore to fight fraud, Globe is still investing a lot in keeping people safe. They spent about US$20 million to make their system better at detecting and stopping scam texts. They even have a special team that works all day and night to stop these unwanted messages, whether they come from inside the country or from other places.
Bonifacio also said, “Despite current limitations, we are doing our best to protect our customers,
leveraging the latest technology and partnerships with other stakeholders to combat fraud. The fight against fraud needs everyone’s support as it affects us all, and we look forward to working with the government more closely to strengthen our campaign,”
