Globe Telecom ramped up its security in SIM swap process.
GLOBE TELECOM — The Ayala-led telecommunications company has committed to further strengthening its robust security measures in SIM swap process.
This, after credit card issuers reported a 21% jump in fraudulent credit card transactions because of SIM card swap.
According to the digital solutions provider, it’s one with various industry sectors in establishing measures in order to prevent and stop online fraud after the Credit Card Association of the Philippines (CCAP) raised a red flag over the increasing fraudulent activities.
In a statement, Globe Telecom said that the telco will strike a balance between serving their customers’ legitimate requests for SIM replacement because of lost or stolen devices, or defective SIM cards, while providing more than adequate safety measures, both digital and physical, in order to protect their customers from scammers and fraudsters.
Globe also emphasized the principle of shared responsibility between customers. The telco giant added that its Channel Management Group continued to implement a formal process and procedures manual for prepaid and postpaid SIM replacement, including rigorous know-your-customer procedures, in order to establish customer identity.
READ ALSO: Globe Telecom Warns Public vs SIM Swap Scam
Also, the digital solutions provider vowed to continue to review and improve its processes and controls in order to meet the dynamic needs of customers.
“To be clear, we do not want our customers to fall victim to any form of online fraud. Having this objective in mind, Globe has invested substantially to put in place a robust data security framework supported by international experts,” Globe said.
Moreover, the telco giant committed to regularly educating customers on data privacy and information security through awareness campaigns and advisories on all customer-facing channels.
Credit Card Association of the Philippines (CCAP) Executive Director Alex Ilagan earlier said that telcos and the National Telecommunications Commission (NTC) should institute measures in order to stem the rise in fraudulent credit card transactions because of SIM card swap.
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