Globe Business strengthens Fraud Protection for PH Financial Institutions amid AFASA

Globe Business bolsters fraud defenses for financial institutions amid AFASA.

Globe BGC Tower

Securing defenses for financial institutions

Globe says the growth of digital banking, e-wallets, and embedded finance has changed how Filipinos access financial services, putting increased pressure on financial institutions to deliver seamless digital experiences while guarding customers against more sophisticated cyber threats. 

This shift is reinforced by Republic Act No. 12010, the Anti-Financial Account Scamming Act (AFASA), which requires Bangko Sentral ng Pilipinas (BSP)-Supervised Financial Institutions (BSFIs) to strengthen fraud detection, account verification, and security controls.

Meeting AFASA's requirements calls for a move away from reactive security toward proactive, operational resilience. 

Globe Business noted that it is supporting this shift by integrating advanced API intelligence, cybersecurity frameworks, and frictionless authentication to help institutions—from large commercial players to local cooperatives—guard against sophisticated fraud without disrupting the customer experience.

The financial services industry continues to evolve rapidly, and institutions are expected to innovate while protecting customers from increasingly complex cyber threats," said Glenn Estrella, Globe Business Vice President. "Organizations need solutions that strengthen security without creating unnecessary friction. Globe Business is committed to helping our partners simplify compliance, protect their customers, and continue innovating with confidence."

As financial services become more deeply embedded in digital platforms and everyday applications, the industry's exposure to cyber risk continues to grow. 

In response, Globe Business offers G Verify, its Silent Network Authentication (SNA) service, which uses mobile network intelligence to verify legitimate users without relying on one-time passwords. By authenticating users in the background, the company says G Verify helps reduce the risk of SIM swap attacks, account takeovers, social engineering, and other forms of digital fraud, while also delivering a smoother customer experience.

Globe Business had introduced SNA before AFASA's passage, unveiling the technology at the 2025 Asian Banking & Finance Forum as a way to strengthen identity verification while reducing friction for customers. G Verify builds on that earlier work, and the company positions it as a tool to help financial institutions improve threat mitigation as regulatory requirements evolve.

These offerings were part of the broader cybersecurity portfolio Globe Business presented at the BFSI Philippines Summit 2026. At the event, the company shared insights with delegates and held consultations with C-level executives on strengthening cyber resilience, navigating AFASA, and developing technology roadmaps that balance security, compliance, and customer experience.

Building trust in every digital transaction requires security that works quietly in the background without disrupting the customer experience," Estrella said. "By combining cybersecurity expertise, intelligent APIs, and trusted network capabilities, Globe Business helps financial institutions strengthen fraud prevention while supporting the next generation of secure digital services.

Globe Business says it will continue working with financial institutions as the sector evolves, aiming to support secure, resilient digital ecosystems through connectivity, cybersecurity, and digital services offerings.

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