Globe, GoTyme Bank partner to strengthen cybersecurity, combat digital scams

MANILA, Philippines — Globe Telecom and GoTyme Bank have partnered to share data to strengthen cybersecurity defenses against the growing threat of online fraud.

Through this collaboration, Globe can give GoTyme access to mobile numbers that may be involved in fraudulent activity, along with the names, addresses, and contact information linked to those numbers. Law enforcement intervention through warrants or subpoenas was traditionally necessary to obtain such information, and this process frequently took months.

By streamlining data exchange, this collaboration seeks to expedite the identification and prevention of cybercrimes, aligning with the Bangko Sentral ng Pilipinas and the National Privacy Commission's call for increased cooperation between financial institutions and telecommunications companies.

The Philippines has seen a 200% increase in scam calls and messages in early 2024, resulting in over 6 million scam texts, 600,000 scam calls, and losses of almost ₱198 million.

Albert Dela Cruz, Chief Information Security Officer at GoTyme Bank, stressed that the data-sharing agreement with Globe fortifies cybersecurity measures to shield customers from changing cyber threats.