Telecom company Globe and digital bank GoTyme Bank have signed a Data Sharing Agreement (DSA) to help investigate fraud and protect customers and businesses from financial crimes.
Under the agreement, Globe can share information about mobile numbers suspected of being used in scams, including names, addresses, and contact details. Without this agreement, law enforcement agencies would need a warrant or subpoena to access such data, which could take months.
The partnership allows both companies to share necessary information while following the Data Privacy Act and the DSA’s terms. This move aligns with the Bangko Sentral ng Pilipinas and the National Privacy Commission’s call for financial institutions, companies, and telecom providers to work together in fighting fraud.
“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,” said Atty. Irish Salandanan-Almeida, chief privacy officer, Globe.
Partnerships
“We, at GoTyme Bank, provide not just a simple and beautiful banking experience but also secure and safe service. This DSA with Globe augments the bank’s cybersecurity systems and measures to protect customers from cyber criminals and fraudsters,” said Albert Dela Cruz, CISO at GoTyme .
Globe and GoTyme are also working with banks, payment gateways, third-party providers, and law enforcement to share information and investigate fraud while complying with laws.
The agreement is part of Globe’s efforts to collaborate with banks and online retailers. Globe has also partnered with the Bankers Association of the Philippines for faster fraud reporting and response.