Security
Singaporeans Lack Confidence in Ability to Spot Online Fraud, Revolut Survey Finds
A recent survey by Revolut, a global neobank with over 35 million customers worldwide, found that over 20% of Singaporeans have experienced some kind of fraud when shopping online in the last six months. Young people aged 18-34 years old
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Sumsub’s New Free Tool Helps Users Detect AI-Generated Images
Identity verification firm Sumsub has released a new tool called For Fake’s Sake to help people to detect deepfakes and synthetic fraud in images. According to Sumsub, For Fake’s Sake is the first tool of its kind to be developed
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Google’s New Initiatives: Expanding Credit Access, Combating Online Fraud in India
Google has unveiled a series of initiatives at their annual “Google For India” event including bridging the credit gap, fostering generative AI and language inclusivity with a new center, and enhancing online safety and security. Addressing the significant issue of
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Revolut Invests in Fraud Talent with 2,500 Experts Across 6 Markets
Revolut, a global neobank with over 35 million customers worldwide, has doubled its financial crime headcount since 2021, with over a third of its workforce now dedicated to fighting fraud. The company has over 2,500 financial crime experts across 6
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Staying Ahead in Asia Pacific’s Fraud Prevention Game
In the midst of a digital revolution sweeping through Asia Pacific, the region finds itself on the cusp of profound change. While this technological wave has brought unprecedented convenience and connectivity, it has also unfurled a shadowy side – a
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Banks Should Not Be Expected to Bear Full Burden of Scam Losses, Says Alvin Tan
Alvin Tan, Minister of State at the Ministry of Trade and Industry, shot down the proposal for banks to bear full responsibility for scam losses in his response to the Motion on “Losses from Scams and Malware Fraud: Doing Right
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S’pore Banks Stepped up Security Measures to Combat Malware Scams, Says ABS
Major retail banks in Singapore have stepped up their security measures to protect customers from malware scams, the Association of Banks in Singapore (ABS) announced on Monday. The banks have designed and implemented the anti-malware security measures suited for their
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OCBC’s Anti-Malware Feature Foiled All Scam Attempts Since August Launch
OCBC’s anti-malware security feature has prevented scammers from stealing more than S$2 million from more than 30 customers in the first month since its launch on 5 August 2023. The bank received reports from these customers that their Android mobile
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ASEAN’s Fintech Sector Attracts US$5.7Billion; Singapore Leads
Fintech innovation has driven economic growth, revolutionising financial services and bringing new solutions to meet evolving needs. Amid global uncertainties and challenges surrounding trust, security, and regulatory clarity, Singapore has emerged as a leading fintech hub in Southeast Asia. A
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Digital Identity is Key to Understanding (and Overcoming) Fraud Attacks
In 2022, digital fraud experienced a significant increase compared to 2021, with the global attack rate escalating by 20% year-on-year. This escalation continues to reflect the early indications observed in 2021 as more and more economies resumed normal operations following
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