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21.9 million bank-related SMS scams blocked in 2023

Philippines | National

21.9 million bank-related SMS scams blocked in 2023

By Aaron Recuenco

Amid calls for cooperation to fight online scams, a major telecommunication company was able to block 21.9 million bank-related spams and scams in its short messaging service (SMS) in 2023.

The SIM Registration Law also appeared to have played a key role since its implementation last year since Globe noted a sharp decline on blocked spam and scams in its SMS—from 83.39 million in 2022 to 21.9 million last year.

Globe chief information security officer Anton Bonifacio said the accomplishment was also a result of the partnership with the Bankers Association of the Philippines (BAP), encompassing 45 major banks, and various individual players in the finance sector to enable vigorous and timely data and intelligence-sharing, aligning efforts to prevent and investigate fraud more effectively.

“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 Bonifacio.

Globe has invested about US$20 million to enhance its spam and scam SMS detection and blocking system and operates a round-the-clock Security Operations Center to filter out unwanted messages, including app-to-person and person-to-person SMS from 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,” he added.

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