Globe sees 85% decline in scam, spam SMS, credits strong partnership with banks against fraud

The number of blocked spam and scam text messages related to banks declined by over 85% based on data covering the first three quarters of 2023, reflecting gains of Globe’s vigorous partnerships with the country’s major banks and financial institutions. 

From January to September, Globe’s proactive blocking efforts fended off over 7 million bank-related spam and scam SMS, crashing from a high of 49.3 million in the same period in 2022.

This follows anti-fraud pacts with the Bankers Association of the Philippines, covering 45 major banks, and with individual players in the finance sector, which enable vigorous and timely data and intelligence-sharing to align and enhance efforts to prevent and investigate fraud.

PNP, GCash advise users against illegal raffle promotions online

This holiday season, GCash is advising the general public against illegal raffle promotions that sell online tickets for a chance to win cash prizes and automobiles. The warning comes as part of the leading e-wallet’s thrust to build a financially inclusive and safe cashless ecosystem by educating users on the modus of scammers, fraudsters, and cybercriminals.

The warning comes with a reminder to users that all such activities, including those online, should have a license to operate issued by the Philippine Amusement Gaming Corporation (PAGCOR).

GCash cited an incident involving the social media page 'Tipsy D Garage' which, according to PAGCOR, was operating illegally, prompting an investigation by the National Police Anti-Cybercrime Group (PNP ACG) arranging the necessary operation. 

#GSafeTayo: GCash to roll out ‘double authentication’ to arrest unauthorized transactions

Signs agreement with PNP-ACG to strengthen fight vs cybercrimes

GCash is set to roll out a new security feature that aims to prevent unauthorized transactions brought about by phishing and other types of scams.

With #GSafeTayo the Philippines’ number one financial app introduced the “double authentication” feature which can ensure that only the account owner has the ability to link his GCash account to a specific device.

“This feature removes customers’ dependence on SMS OTPs which has been exploited by some fraudsters to scam users. It will provide a unique identifier that can’t be phished by scammers. It also provides an additional layer of security to the current SMS OTP,” said Winsley Bangit, Chief Customer Officer of GCash. “We never stop innovating to make sure our 71 million users have the safest and most convenient experience when they use the app.”