Globe Telecom is reporting that its efforts in reducing bank-related spam and scam messages have largely been successful, with the telco achieving a large, 85% reduction in both for the first 3 quarters of the year.

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According to Globe, its blocking efforts have managed to stop over 7 million bank-related spam and scam text messages from January to September. This is a result of Globe’s anti-fraud pacts with with the Bankers Association of the Philippines, covering 45 major banks and with individual players in the finance sector which gave Globe the data for their spam-blocking efforts.

“Our partnerships with various banks and financial institutions, aimed at enhancing fraud detection and prevention have been highly effective, as evidenced by the steep decline in blocked spam and scam SMS related to banks. This progress underscores the impact of our joint initiatives in safeguarding consumers against financial fraud,” said Globe chief information security officer Anton Bonifacio.

Globe has already spent around $20 million (around Php 1.1 billion) to combat cybercrime in the Philippines via its spam and scam SMS detection and blocking system, with a round-the-clock security operations center filtering out unwanted messages, including app-to-person and person-to-person SMS from international and domestic sources.

“Despite current limitations, we are doing our best to protect our customers, leveraging the latest technology and partnerships with other stakeholders to combat fraud. The fight against fraud needs everyone’s support as it affects us all, and we look forward to working with the government more closely to strengthen our campaign,” said Bonifacio.