Security
In Southeast Asia, New Digital Habits Boost Digital Payments and Consequently Fraud
COVID-19 has sparked a global spike in e-commerce sales and online businesses as lockdowns force consumers to turn to online channels to shop. As everyone embraces e-commerce, cashless payment methods including cards and digital wallets have surged, bringing with it
Read More
10 Largest Crypto Hacks, Heists and Exploits of the Past 15 Months
Cryptocurrency-related hacks and scams continue to cost businesses and consumers billions in losses each year. Although overall crypto-related fraud activities have declined since at least 2019, data from blockchain analytics and crypto intelligence firm Ciphertrace suggests that criminals are now
Read More
Stronger Mobile Application Security Is the Key to Revenue Growth
Financial institutions have been moving towards expanding digitisation for years, offering remote banking services, and prioritising the customer experience in digital platforms. In 2020, however, the COVID-19 pandemic has dramatically accelerated this shift. With less access to bank branches, the
Read More
A Guide on Mitigating Cloud Adoption Risks Based on MAS’ Advisory
Although organisations across many sectors have accelerated the adoption of cloud environments, the financial institutions (FIs) have been rather reluctant in migrating their services to the cloud. Core transaction processing and other mission-critical tasks are still running on legacy on-premises
Read More
GBG Joins Forces With SEON to Offer Enhanced Fraud Prevention Solutions
GBG, a global digital identity and fraud solutions provider, has announced a partnership with SEON to enhance fraud prevention solutions for fintechs and digital banks in the Asia Pacific region. The partnership with SEON enables GBG to increase effectiveness in
Read More
Payment Transaction Authentication Methods, Which Is the Best?
Nowadays the usual user authentication methods to portals, enterprise systems, VPNs and so on, are familiar to us all. We all know about authentication factors (what you know, what you have, and what you are), two-factor authentication, multi-factor authentication, how
Read More
Fraud Risk Management Systems: To Build, Buy or Rent?
With financial institutions (FIs) in the APAC region preparing for a rising trend in financial fraud, fraud risk management systems continue to receive close attention. As of 2020, FIs based in the APAC region were expected to spend millions on
Read More
OCBC Recovers US$8 Million in Fraudulent Transactions With Its Surveillance System
OCBC Bank has recovered US$8 million worth of fraudulent transactions within the first year of the deployment of its Fraud Surveillance System (FSS) that was developed together with SAS Institute, a software analytics company. In 2020, OCBC reported that more
Read More
US, MAS Announce Cybersecurity Cooperation During Kamala Harris’ Visit
The United States Department of the Treasury and the Monetary Authority of Singapore (MAS) has finalised a bilateral Memorandum of Understanding (MoU) on cybersecurity cooperation during US Vice President Kamala Harris’ visit to Singapore. MAS said in a statement that
Read More
Airome Technologies Recognised as Gartner’s User Authentication Market Leader
Airome Technologies, a Singapore-based developer of cybersecurity solutions for digital banking and e-document management systems, was announced as a representative vendor by Gartner. The Vendor Identification for User Authentication 2021 report contains a comprehensive list of user authentication vendors who
Read MoreLoading, Please Wait!
This may take a second or two.