Globe and GoTyme Bank have entered into a Data Sharing Agreement (DSA) to support fraud investigations and protect consumers and businesses from rising cases of financial crimes.
The Chief Information Security Officers (CISOs) of both organizations: Anton Bonifacio for Globe and Albert Dela Cruz for GoTyme signed the DSA. Irish Krystle Salandanan-Almeida and Mimi Tan, GoTyme Bank’s Chief Legal and Compliance Officer, served as witnesses.
Under the DSA, Globe and GoTyme may share with digital bank GoTyme information about mobile numbers potentially used by fraudsters, including names, addresses, and contact details, a press release from Globe said on Monday, Feb. 20.
Without the agreement, a law enforcement agency or court would need to issue a warrant or subpoena to obtain information about a suspected scammer, a process that could take months.
Similarly, GoTyme may share necessary information with each other to support investigations, in compliance with the Data Privacy Act and the terms of the Data Sharing Agreement.
This move follows the guidance of the Bangko Sentral ng Pilipinas and the National Privacy Commission, urging collaboration among financial institutions, companies, and telecom entities in fraud investigations.
It further solidifies the telco leader’s commitment to cybersecurity and ongoing efforts to combat spam, phishing, identity theft, and other online criminal activities.
By sharing critical information, Globe and GoTyme seek to improve their ability to prevent fraud, investigate incidents more efficiently, and implement proactive measures to stop scams before they impact customers.
“This partnership reflects our ongoing commitment to championing cybersecurity and protecting our customers from the growing threats in the digital world. Through collaborations, we can combine our expertise and resources to better safeguard the financial sector and our customers from cybercrime,” said Atty. Irish Salandanan-Almeida, Globe’s Chief Privacy Officer.
“We, at GoTyme Bank, provide not just a simple and beautiful banking experience but also secure and safe service. This DSA with Globe augments the bank’s cybersecurity systems and measures to protect customers from cyber criminals and fraudsters,” said Dela Cruz.
Globe and GoTyme are also working with financial institutions, payment gateway providers, third-party service providers, and law enforcement agencies to share relevant information and conduct fraud investigations in compliance with existing laws and regulations.
The DSA is part of Globe’s initiatives to encourage collaboration with major commercial banks, digital banks, and online retail.ers. Globe earlier forged partnerships with the Bankers Association of the Philippines (BAP) and other BAP member banks to institute a direct, round-the-clock communication exchange for quick and efficient reporting and handling of spam and fraud.*PR