Globe says ready to cooperate in cybercrime probe involving banks: official

Jessica Fenol, ABS-CBN News

Posted at Dec 13 2021 04:37 PM

MANILA - Globe Telecom is willing to help the Bangko Sentral ng Pilipinas and law enforcement agencies in the probe on unauthorized transactions involving BDO account holders, a company official said on Monday. 

"We are helping, we are trying to trace, we’re trying to look. We haven’t really seen anything yet but of course, we’re going to be cooperating with the BSP or even with law enforcement if they needed help with a particular GCash wallet," Globe's Chief Information Security Officer Anton Bonifacio said.

Globe's fintech arm Mynt, operates the GCash e-wallet.

BDO customers over the weekend complained of unauthorized withdrawals and said they did not engage in any phishing sites.

The BSP said it is working with BDO on the alleged hacking incidents. BDO said it would return the lost funds but it is yet to issue an estimate of how much money was involved.

Globe said it is also working with the National Privacy Commission on the investigations on the SMS phishing spam.

Thousands of Filipinos earlier said they have received SMS spam offering job opportunities, which when clicked directed them to group chats and phishing sites.

But Bonifacio said the unauthorized bank transaction is far worse than the SMS spam.

"The scary thing about it is it's no longer the spam scam we’re talking about. This is no longer phishing that requires customer interaction," he said.


Banks, the government, the private sector and the consumers should all work together to mitigate the spread of cybercrimes, he said, adding that education is going to be key in cybercrime prevention.

"We’re all in this together… we do know that we have a responsibility to be able to get the education and awareness out. I think that’s what we want to double down on because there is a huge percentage of customers, Filipinos in general that may not be savvy enough to have practical tools readily available," he said. 

"The private sector can do a little bit more or that and more of partnerships and sharing I think we’ll be better off," he added.

On the enterprise side, companies and banks should ensure the KYC (know-your-customer) process is "less daunting" to encourage more people to open accounts, he said. 

GCash earlier said it has rolled out "extra security" features to protect customers.


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