Globe Telecom Inc. (Globe) and GoTyme Bank have joined forces to share data in order to enhance protection against scams that can lead to financial losses for victims. The two companies have signed an agreement to exchange mobile numbers, names, and addresses that may be associated with fraudulent activities.
This collaboration will comply with the Data Privacy Act and streamline the process of investigating suspected scammers by eliminating the need for warrants or subpoenas to access their information.
Globe's Chief Privacy Officer, Irish Salandanan-Almeida, emphasized, “This partnership reflects our ongoing commitment to championing cybersecurity and protecting our customers from the growing threats in the digital world. Through collaborations, we can combine our expertise and resources to better safeguard the financial sector and our customers from cybercrime.”
Related: China, Myanmar, and Thailand Unite to Dismantle Telecom Fraud Centers
Cyberthreat Landscape
In the first half of last year, Globe blocked 2.7 million bank-related spam and scam messages, investing around USD 20 million in scam detection and prevention systems to protect consumers from deceptive messages. A study by Kaspersky revealed that Filipinos encountered 14.1 million web threats last year, a decrease from 26.6 million in 2023.
Yeo Siang Tiong, Kaspersky's General Manager for Southeast Asia, suggested that this decline in cyber threats could be due to improved detection and prevention methods. However, Tiong cautioned that hackers might be targeting specific high-value individuals rather than launching widespread cyberattacks.
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