25.5 C
Cagayan de Oro
Thursday, June 13, 2024

    Latest Posts

    Globe Group backs bills against money mule activities

    In the current digital landscape, a concerning trend has emerged where people find themselves ensnared in the deceptive web of online scammers. Often tempted by the allure of easy money or duped by cunning tactics, these individuals knowingly or unknowingly become “mules.”

    Given the alarming number of such activities, the Globe Group has expressed support for pending Anti-Money Mule and Financial Fraud bills, which criminalize these illegal acts and penalize offenders with jail time. Versions of the bill are pending in the House of Representatives and the Senate.

    Ernest Cu, Globe Group President and CEO, emphasized the significance of the proposed legislation, saying “I think that will put a lot of teeth into the things that we are doing against scammers because if your name is implicated, then you can be an accessory to the crime. Right now people do not value or do not put a lot of emphasis on their identity being used in crimes.”

    There have been reported incidents of individuals registering their SIMs and setting up e-wallets and bank accounts only to sell them to fraudsters. While some may believe they are engaging in a harmless or victimless act, they are, in fact, supporting complex criminal activities. This behavior continues a cycle of fraud and deception that affects numerous victims.

    “These are things that should be made a criminal offense in this country. Because you are making yourself an accessory, you’re aiding in the commitment of a crime.  That sort of thing, I think, should be stopped through a law that we are also pushing Congress to enact,” added Cu.

    A recent raid on an offshore gaming firm, which led to the discovery of over 20,000 SIMs from various telcos, highlights the urgent need for stricter regulations. The confiscated SIMs were reportedly registered on multiple digital platforms despite being unopened and still in their packets, revealing a sophisticated scam operation that targets innocent victims.

    Globe acknowledges the persistent threat of cyber scams. The company’s network security team remains vigilant and is dedicated to its rigorous monitoring and coordination efforts.

    Globe also continues to closely coordinate with the authorities to prevent cybercrime, detect scam in its network, and provide support that could lead to the arrest and successful prosecution of suspects.

    “The scammers will always be there. And to the credit of our network security team, Globe is always one step ahead of the cybercrime organizations. So we continue to monitor, we continue to listen, we continue to coordinate and we hope that we can combat cybercrime together with the efforts of the government,” said Atty. Froilan Castelo, Globe’s General Counsel.

    Globe is unwavering in its commitment to ensuring a secure digital environment for its users. It continues to engage in proactive measures and collaborations with key stakeholders to combat unlawful activities.

    To learn more about Globe, visit https://www.globe.com.ph/.



    Latest Posts


    Don't Miss


    Stay In Touch

    Get updated with all the latest news, offers and special announcements.