MANILA -Globe Telecom Inc. is teaming up with financial technology player Home Credit Philippines to beef up its initiatives against financial scams, which have recently plagued the users of the Ayala-backed e-wallet brand GCash.
Under the partnership, the listed telco giant and consumer finance firm will share relevant information and join forces in probing fraud cases.
“As a leading digital solutions platform, Globe is fully aware of the detrimental effects of spam and scam texts and other forms of fraud on our customers and stakeholders,” Globe chief privacy officer Irish Salandanan-Almeida said.
“By working together and taking proactive measures, we aim to prevent such incidents to safeguard our customers’ interests,” she added.
Home Credit chief compliance officer Rejyl Siang said their partnership supports their commitment “to helping the government with their goal of adding an extra layer of security and protection that benefits all Filipinos.”
Prior to this, Globe had signed partnerships with several banks and financial institutions to combat the increasing volume of financial crimes, identity theft, phishing and spam, among others.
READ: Banks, Globe Telecom team up to fight cybercriminals
The telco giant has spent $20 million to improve its blocking system. From January 2022 to 2023, it foiled 85 million bank-related spam messages.
Earlier this month, GCash dealt with numerous complaints over unauthorized deductions from its users’ account balances, which it was able to restore eventually.
The popular e-wallet company had claimed that no hacking was involved. Instead, it explained there were deliberate phishing attempts, a fraudulent activity whereby hackers trick victims into providing their personal information, such as contact details.