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Globe Telecom and Security Bank Corp. have signed a two-year memorandum of cooperation to improve cybersecurity, prevent fraud and improve cybercrime investigations by sharing data. This collaboration aims to address issues such as financial crime and identity theft.
Globe’s chief privacy officer said that cooperation with banks and financial institutions has strengthened fraud prevention, detection and investigation, and successfully blocked 46% of bank-related scams and spam in the first six months. Security Bank’s chief information security officer said the collaboration will help protect customer data and ensure they enjoy a seamless and secure experience in digital payment services.
This move is in compliance with the Philippine Data Privacy Act and the Central Bank Memorandum, and promotes cooperation among financial institutions to share relevant information to prevent fraud.
(Source: inquirer Image source: freepik)
