Security

Facial Recognition Authentication: Is It Good Enough to Fight Financial Fraud?

More than 2800 branches were closed in the UK between 2015 and the end of 2018, and a similar trajectory can be seen across the globe. This trend is driving traditional banks to switch to expand their businesses digital channels,

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A Look Back on Some of the Most Devastating Crypto Hacks

Another day, another cryptocurrency exchange hack. Recently the crypto world has been shaken by the Binance hack, that vanished approximately US$40 million worth of bitcoin through patient methods to avoid detection. It’s just the latest in a slew of hacks

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Cyber Threats Are On The Rise — 1% of Global GDP is Lost Annually

Malware, cryptocurrency mining, ransomware and drive-by download attacks are the top four cyberthreats in Asia Pacific (APAC), according to a new report by Microsoft. Released last month, the 24th edition of the Microsoft Security Intelligence Report (SIR) suggests that while

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Bloomberg Accuses Apple of using Special Microscopic Chip-bugs on Supermicro Servers

So far, the misuse of personal data and corresponding cybersecurity measures have been the hottest topics in 2018 – just remember what’s been in the news in March. If it happens that you live under a rock, I mean precisely

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Echoing PM Lee, MAS Calls for The Industry to Be More Cyber-Resilient

The recent Singhealth data hack is a sobering reminder to us all that the conveniences offered by digital technologies has also exposed us to various vulnerabilities. With over 1.5 million patient breached, Prime Minister Lee Hsien Loong said the Government is doubling

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Cryptocurrency Mining Malware Increased 86% in Q2 / Blockchain Security Threats

McAfee released its McAfee Labs Threats Report: September 2018, examining the growth and trends of new cyber threats in Q2 2018. In the second quarter, McAfee Labs saw the surge in cryptomining malware growth that began in Q4 2017 continue

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MAS Consults On Measures To Strengthen Cyber Resilience Of Financial Institutions

The Monetary Authority of Singapore (MAS) issued for consultation proposed requirements for financial institutions (FIs) in Singapore to implement essential cyber security measures to protect their IT systems. These requirements will help FIs strengthen their cyber resilience and guard against cyber

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Everything You Need to Know about Singapore’s Personal Data Protection Act

Singapore’s Personal Data Protection Act (PDPA) governs the way companies in the country collect, store, use and disclose data. In order to comply with KYC (Know Your Customer) laws, fintech companies must collect personal data from customers. And that, in

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Collaboration is Key to Strong Cyber Security Framework in Australia

Experts who attended the inaugural National Fintech Cyber Security Summit share the view that collaboration between Australian authorities and the private sector would build a strong information protection industry locally. With cyber threats growing more damaging and more sophisticated, it is

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Singapore’s FinTech Answer To The $35 Billion Card Fraud Problem

We take card payment for granted in our daily life from the paying of meals to purchasing of concert tickets online. According to Nilson, the world purchased $28.8 trillion worth of goods and services in 2014 by credit, debit and

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