Telecommunications company Globe reported a 73.7% reduction in blocked spam and scam SMS related to banks in 2023. In the past year, Globe has intercepted 21.9 million bank-related spam and scam SMS, reflecting a decrease from the 83.39 million messages blocked in the preceding year.
“This milestone not only highlights our commitment to combating financial fraud but also encourages us to continuously enhance our security measures for the protection of our customers,” said Anton Bonifacio, chief information security officer at Globe.
Previously, Globe entered into anti-fraud agreements with the Bankers Association of the Philippines (BAP), comprising 45 major banks, as well as with various individual players in the finance sector. These partnerships facilitate vigorous and timely data and intelligence-sharing, aligning efforts to prevent and investigate fraud more effectively.
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To further boost its efforts, Globe invested about $20 million to enhance its spam and scam SMS detection and blocking system. The company operates a round-the-clock Security Operations Center dedicated to filtering out unwanted messages, including app-to-person and person-to-person SMS from both international and domestic sources.
“Despite facing certain limitations, our dedication to customer protection remains unwavering,” said Bonifacio. “The fight against fraud requires a unified approach, as it affects everyone. Alongside utilizing cutting-edge technology, we are committed to strengthening our alliances with key stakeholders and escalating our efforts to combat these fraudulent activities.”