Globe and RCBC Team Up to Protect Customers Against Fraud

Globe, a leading digital solutions platform, and RCBC, one of the Philippines’ major banks, have signed a Memorandum of Agreement to combat online fraud. With the increasing volume and complexity of financial crimes, identity theft, phishing, SMS spam, and other similar scams, the two companies have committed to work together to prevent fraudulent activities and protect their customers.

As part of the agreement, Globe and RCBC will have a direct communication channel to report any fraudulent activities for immediate investigation and blocking. This collaboration is expected to promote a more integrated and collaborative approach to information and intelligence sharing and incident reporting.

The partnership is aligned with Globe’s MoU with the Bankers Association of the Philippines (BAP), aiming to enhance the joint capability of Globe and RCBC to investigate and respond to incidents related to financial scams and fraud. This partnership is a major step towards enhancing their capabilities in fraud detection and prevention, and customer protection.

With the transition towards a digital marketplace, it has created a wider terrain for attackers to target non-assuming digital users. Hence, Globe has intensified its efforts to combat fraudulent activities. From January 2022 to January 2023, Globe blocked 85 million bank-related spam and scam messages, part of the record high of 3 billion scam and spam messages filtered out within the same period.

Moreover, Globe has launched various initiatives to address growing threats brought about by spam and scam SMS, including the #StopSPAM portal, where customers may report these unwanted messages. The company has spent about $20 million to step up its spam and scam SMS detection and blocking system. Its round-the-clock Security Operations Center filters out unwanted messages, including app-to-person and person-to-person SMS from international and domestic sources.

Globe also regularly provides customers with relevant information via social media advisories about fraud, cybersecurity, and data privacy to boost awareness and help them protect themselves against these threats.

Globe and RCBC's partnership is a significant step towards improving the security of digital customers against fraudulent activities.