Philippines-based operator Globe Telecom penned a memorandum of understanding with Rizal Commercial Banking Corporation (RCBC), to enhance their communication channels and safeguard bank accounts against online fraud.
The MoU enabled both companies to have a direct communication channel to report fraudulent activities at any time, for immediate investigation and blocking.
As the Philippines is becoming more digital, online fraud, identity theft, phishing and SMS spam and other fraudulent activities have been prevailing, noted the operator in a statement.
"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. Our commitment to fighting fraud remains strong, and we will continue to work with other institutions and stakeholders to protect our customers from fraudulent activities," said Globe chief privacy officer Irish Salandanan-Almeida.
Globe blocked 85 million bank-related spam and scam messages between January 2022 to January 2023. The operator has also invested US$20 million to upgrade its SMS detection and blocking system.
The operator previously partnered with multiple financial institutions and e-commerce platforms in its battle against fraudsters.