Globe, the leading digital solutions platform, and RCBC, one of the Philippines’ major banks, have joined forces to combat online fraud and protect their customers. Through a Memorandum of Agreement, the partnership will establish a direct and round-the-clock communication channel to report any fraudulent activities for immediate investigation and blocking.
The partnership is aimed at addressing the increasing volume and complexity of financial crimes, identity theft, phishing, SMS spam, and other similar scams and frauds that severely impact consumers and major stakeholders in various industries, including telecommunications, e-commerce, and finance.
Aligned with Globe’s MoU with the Bankers Association of the Philippines (BAP), the collaboration seeks to enhance their joint capability to investigate and respond to incidents related to financial scams and fraud while developing proactive measures to prevent further escalation.
“Our collaboration with RCBC will enable us to take proactive measures to prevent spam and scams from occurring and strengthen our capabilities to investigate and respond to such incidents,” said Globe Chief Privacy Officer Irish Salandanan-Almeida.
Meanwhile, RCBC Chief Information Security Officer Carlos Tengkiat expressed his enthusiasm for the partnership, stating that it is a major step towards enhancing their capabilities in fraud detection and prevention, and customer protection.
As part of its ongoing efforts to quell fraud, Globe has already blocked 85 million bank-related spam and scam messages from January 2022 to January 2023, as part of the record high of 3 billion scam and spam messages filtered out within the same period. The company has also launched initiatives such as the #StopSPAM portal to report unwanted messages, invested in detection and blocking systems, and provided customers with relevant information to boost awareness and help protect themselves.
Through this collaboration, Globe and RCBC aim to promote a more integrated and collaborative approach to information and intelligence sharing and incident reporting, strengthening their capabilities to mitigate cybersecurity threats and protect their customers.
