Security
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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Visa Launches New Service to Simplify Subscription Tracking for Cardholders
Visa has launched its Subscription Manager solution for banks and other financial institutions, enabling them to offer Visa cardholders an easy way to track their all their subscriptions. This move is in response to the burgeoning global subscription market, which
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Money Lock Safeguarded S$6.6B Across Over 78,000 Singapore Accounts
Since the launch of the Money Lock feature by three local banks – OCBC, DBS, and UOB – in November, over 78,000 accounts have been established with more than S$6.6 billion of savings securely set aside as of March 2024.
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COSMIC Platform Goes Live in Singapore to Combat Financial Crime
The Monetary Authority of Singapore (MAS) has officially rolled out the COSMIC platform, a digital initiative aimed at bolstering the defense against money laundering, terrorism financing, and the proliferation of weapons of mass destruction. The system, which became operational today
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Visa Set to Roll out New AI-Powered Fraud Prevention Solutions
Visa announced the expansion of its value-added services by introducing three new AI-powered solutions aimed at bolstering fraud and risk prevention. These additions are part of Visa’s comprehensive Protect suite, targeting immediate account-to-account transactions, card-not-present (CNP) payments, and activities beyond
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Worldpay Taps Mastercard’s Ethoca Alerts to Reduce Payment Fraud, Chargebacks
Mastercard and global acquirer Worldpay have announced a partnership aimed at mitigating payment fraud and reducing the prevalence of chargebacks. Chargebacks, which are refunds requested by consumers disputing transactions, are on a steep rise, with projections indicating a surge to
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Mobile Banking Malware on the Rise Amid Rapid Adoption
Mobile banking is a rapidly growing market that’s projected to hit a value of US$7 billion by 2032. However, this surge is being accompanied by a dramatic growth in mobile banking malware, as threat actors increasingly turn their focus on
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Visa: AI Fuels Surge in Emotion-Based Scams like Pig Butchering and Inheritance Fraud
Visa’s latest Biannual Threats Report for Spring 2024 underscores the concerning rise of “pig butchering” scams, showcasing the sophisticated threats plaguing both individuals and businesses in the global payments ecosystem. These scams cleverly exploit emotional vulnerabilities by luring victims into
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