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Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Police: No truth to bomb threat at PI’s prayer rally
The Davao City Police Office (DCPO) has debunked a text message claiming a bomb threat at the People's Initiative (PI) “Unity for One Nation, One Prayer” rally in San Pedro Square. The message warned of possible explosions at Rizal Park, one of the rally venues. Despite the lack of credible threats, the police urged vigilance and cooperation from the public for safety. Approximately 300 police personnel were deployed to secure various rally points, with additional support from volunteers and security clusters. Task Force Davao also activated a high alert status as part of the city's security measures. Captain John Louie Dema-ala confirmed that the circulating threat was unfounded and aimed at intimidating rallyists. Despite this, nearly 17,000 Dabawenyos joined the rally to oppose the proposed Charter change (Cha-cha) movement. The police and security forces remain vigilant and are conducting ongoing investigations into the social media threat......»»
InstaPay, PESONet transactions hit P3.8 trillion in Q1
The value of online payments coursed through the automated clearing houses established by the Bangko Sentral ng Pilipinas (BSP) reached P3.81 trillion in the first three months of the year, as Filipinos continue to use digital channels for their financial transactions......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
Coin deposit machines log P577 million transactions
The value of transactions through the coin deposit machines deployed by the the Bangko Sentral ng Pilipinas is close to reaching the P600-million mark, as more and more Filipinos use the machines to deposit their idle coins......»»
BSP to review 3 percent rate cap on credit card transactions
The Bangko Sentral ng Pilipinas will review this month whether to keep or hike the three percent interest rate cap on credit card transactions......»»
Tax Notes: BIR clarifies treatment, conversion of foreign currency transactions
Tax Notes: BIR clarifies treatment, conversion of foreign currency transactions.....»»
Murcia private cemetery warns public vs spurious transactions
Murcia private cemetery warns public vs spurious transactions.....»»
More Pinoys do buy now, pay later transactions
Nearly 50 percent of respondents in the Philippines are likely to adopt buy now, pay later services for future transactions, according to a survey from consumer research and data analytics company Milieu Insight......»»
BSP to banks, financial institutions: Prioritize national ID as top identification
The central bank said that institutions should “adopt enhanced measures to ensure the broad acceptance of the PhilID” whether its physical or electronic version as a valid proof of identity and age for all financial transactions. .....»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
A Quick Guide to Online Gambling and Financial Responsibility
With the rise of PAGCOR accredited online gambling platforms, many individuals are drawn to the allure of quick wins and entertainment. However, the world of online gambling will require extreme caution and financial responsibility to avoid potential pitfalls and safeguard one’s financial well-being. Understanding the Risks Online gambling can be enticing, but it comes with […].....»»
DOE eyes AI use in power sector
The Department of Energy is looking at the use of artificial intelligence to help bolster the power sector’s capabilities in resolving and preventing problems such as power plant outages......»»
Kids advised to wear masks
People, especially children, have been advised to wear face masks as a form of protection after the Department of Health (DOH) sounded the alarm over the rising cases of pertussis or whooping cough in the country......»»
Cops advised to refrain from engaging in illegal acts
Cops advised to refrain from engaging in illegal acts.....»»
Serious Crash, Tomoana Road, Hastings
Police are responding to a serious crash involving a vehicle on Tomoana Road, Hastings, reported around 12:20pm.One person has been transported to hospital in a serious condition.The Serious Crash Unit has been advised.The road is closed at the intersections of Tomoana Road/Williams Street and Tomoana Road/Nelson Street, diversions are in place.Motorists are advised to follow the diversions......»»
Serious Crash, Longbeach Road, Willowby
Police are responding to a two vehicle crash on Longbeach Road near Winslow Willowby Road, Willowby, Ashburton.The crash was reported around 5:40pm.One person is in a critical condition, and a helicopter is enroute.The Serious Crash Unit has been advised.The road is blocked and motorists are advised to expect delays.ENDS Issued by Police Media Centre Sou.....»»
Serious crash near Ashburton
Police are responding to a two-vehicle crash in Willowby, near Ashburton.The crash was reported around 5:40pm on Longbeach Road, near Winslow Willoughby Road.One person is in a critical condition, and a helicopter has been called for.The Serious Crash Unit has been advised.The road is blocked and motorists are advised to expect delays.ENDS Source: NZ Police.....»»
Multi-awarded police intelligence agent killed in General Santos ambush
A police intelligence agent based in Carmen, Cotabato province, credited for his accomplishments in locating members of local terrorist groups wanted in courts for heinous crimes, died in an ambush in General Santos City at about dusk Sunday......»»
Loans to agriculture sector ‘quadrupled’ in 2023
The banking sector’s loan disbursements to the agriculture sector quadrupled last year after the government widened the number of projects considered as compliant with the 25 percent requirement, a member of the central bank’s Monetary Board said......»»