‘Firms should treat digital trust as business asset’

Businesses must recognize digital trust as a vital strategic asset, informed by consumer group CitizenWatch Philippines. This trust is essential for maintaining customer confidence and encouraging participation in the digital economy, the group emphasizes. "Digital trust is more than just a cybersecurity concern – it is a business asset," stated lawyer Kit Belmonte, a former legislator and co-convenor of CitizenWatch.

"Customers are more likely to engage with digital services when they are assured that their data and transactions are secure."

Belmonte urged both private enterprises and government bodies to prioritize the consistent implementation of safeguards against online scams. According to the Philippine Statistics Authority, the digital economy contributed P2.74 trillion to the gross value added in 2025, accounting for 9.8 percent of the country's GDP. However, consumer confidence is threatened by the persistent issue of fraud.

A TransUnion report for the second half of 2025 revealed that 65 percent of Filipino consumers surveyed had experienced fraud through various digital channels, such as email, the internet, phone calls, or text messages, compared to 48 percent globally.

"Feeling unsafe online can erode confidence in the services consumers rely on, directly impacting individuals and potentially weakening their willingness to engage in the digital economy," Belmonte cautioned. To address this, Belmonte called for cooperation among telecom operators, digital platforms, financial institutions, and government agencies to establish and maintain a cohesive system of protection.

This system should include measures such as blocking scam messages and malicious domains, providing clear avenues for users to report suspicious activities, and sharing threat intelligence across the industry.

Telecom companies have already implemented some protective measures, such as scam and spam blocking, consumer reporting channels, security advisories, and collaborations with financial institutions. An example of industry response is Globe's trial of Silent Network Authentication with GCash, aimed at enhancing consumer protection.

Belmonte acknowledged these company initiatives as valuable steps, but stressed that they should not replace standardized protection measures across the industry. "If safeguards differ from one operator, bank, or platform to another, scammers will target the weakest link, leaving consumers to manage risks they cannot effectively control," he warned.

In addition to urging individual companies to take responsibility, CitizenWatch Philippines emphasized the need for shared accountability among operators, platforms, banks, and government entities. This includes improving information-sharing processes and providing support to smaller telecom providers that may lack the resources necessary to bolster their defenses.