Globe Reports 46% Drop In Bank-Related Spam and Scam SMS in H1 2023
Leading digital solutions platform Globe has reported a significant 46% decrease in blocked bank-related scam and spam messages in its network in the first half of this year.
Latest data shows the number of bank-related scam and spam messages falling to 4.85 million covering the period of January to June this year, compared to 9.06 million during the same period last year. In the second quarter alone, the count went down to 779,254, a huge drop from the 5.1 million reported in the corresponding quarter of 2022.
Unscrupulous persons and organizations often utilize 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-wallet accounts.
"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.
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. These efforts show the company’s dedication to creating a safer digital environment for its consumers.