Security

Billions Lost to Fraud Despite Efforts, APAC Fintechs Grapple with Rising Threats

Despite tireless efforts from businesses and tech providers, fraudsters persist in siphoning off billions annually. According to the “2024 State of Fraud” whitepaper by Telesign, a customer identity and engagement solutions provider, U.S. fraud victims suffered nearly US$8.8 billion in

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Coinbase Leads Coalition of Tech Giants Against Financial Scams

Crypto exchange Coinbase has launched the Tech Against Scams coalition, teaming up with industry leaders like Match Group (the parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation (GASO) to tackle online fraud and

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Mastercard Deploys Generative AI to Enhance Compromised Card Detection

Mastercard has announced the implementation of generative AI technology to significantly accelerate the detection of compromised cards, enhancing protection for cardholders and securing the payment ecosystem. Fraudsters frequently steal millions of payment card numbers through methods like spyware, malware, and

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Anti-Scam Centre and DBS Bank Recover Over S$170,000 in Tech Support Scam

Singapore’s Anti-Scam Centre (ASC) and DBS Bank have successfully recovered more than S$170,000 lost in a technical support scam. The victim, a 70-year-old woman, was using her computer when she saw a pop-up alert prompting her to call a “Microsoft” hotline number

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Identity Theft, Real-Time Payment Scams Top Concerns for Singapore Consumers

FICO, a global analytics software firm, has revealed findings from its latest consumer fraud research, highlighting concerns among Singaporeans regarding real-time payment scams. The study shows that 26% of Singaporeans fear being tricked into sending money to criminals, exposing them

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Mastercard and Salesforce Collaborate to Improve Transaction Dispute Handling

Mastercard and Salesforce have announced a new integration aimed at enhancing the transaction dispute process. This collaboration seeks to provide consumers with a safer and more efficient shopping experience by streamlining the resolution of transaction disputes and reducing associated costs.

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Visa Targets Bot-Driven Financial Fraud with New AI Feature

Visa has launched an AI-powered enhancement to its Visa Account Attack Intelligence (VAAI) solution, designed to combat the increasing number of account attacks facilitated by automated scripts and botnets. These attacks, known as enumeration attacks, have contributed to significant financial

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The Rise Of Scams. How To Protect The Customer And Fintech Reputation?

Australia has a reputation for being a place where every animal and insect is out to get you. That’s a massive misconception. In fact, only 66 venomous species live in Australia, while countries like Mexico and Brazil have around 80.

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Securing Mobile Apps Against Malware and Phishing Attacks in Indonesia

Indonesia’s financial technology landscape is experiencing explosive growth, fueled by the rise of mobile payments and digital banking. While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose

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MAS and Mastercard Partner to Strengthen Financial Sector Cybersecurity

The Monetary Authority of Singapore (MAS) and Mastercard have signed a Memorandum of Understanding (MoU) to bolster cybersecurity within the financial services sector. The partnership is built on a foundation of bilateral information sharing of cyber threat intelligence, aiming to

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