Tag "cybersecurity"
Experts Warn of Rapidly Evolving Fraud Techniques in the Wake of COVID-19
Like businesses have embraced digitalization to evolve in the wake of COVID-19, fraudsters and scammers too are embracing digital technology to evolve the threat that they pose to businesses and the public, experts from Visa, Rizal Commercial Banking Corporation (RCBC),
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Enhancing Remote Working and Cybersecurity a Top Priority of Asia Pacific
Across Asia-Pacific (APAC), firms are ramping up their digital transformation efforts, focusing primarily on adopting cloud computing, improving cybersecurity and enhancing remote working, a new survey by Australian telco firm Telstra. The study, conducted in late-2020, polled 420 business decision-makers
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Banks Need to Step Up as Fraudsters Target Surge in Digital Adoption by First Time Users
The COVID-19 pandemic has forced organisations and individuals to embrace new practices and move to online channels, bringing with it a significant increase in fraudulent activities. Affirming this situation, cybersecurity firm Kaspersky recorded a 20% increase in the share of
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Fraud Attacks Increase Amid Rising Digital Banking Adoption
The COVID-19 pandemic and the measures put in place to limit the spread of the virus have drastically accelerated adoption of digital banking and contactless payments. Across Southeast Asia, banks have ramped up their digital efforts to respond to the
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APAC’s Financial Industry Sees Surge in New Account Creation Fraud
In H1 2020, new account creations saw the highest rate of attack across all transaction types within financial services, according to a new study by LexisNexis, a provider of computer-assisted legal and business research as well as risk management services.
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MAS Proposes New Regulations Amid Emerging Risks Arising from Digital Assets
Singapore’s central bank, the Monetary Authority of Singapore (MAS), is proposing new regulations that it would give it more power to regulate the financial services industry, notably in the fields cybersecurity and virtual assets, the regulator said on July 21.
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The Rise of Virtual Banks in Asia is Posing New Cybersecurity, Fraud Risks: Jumio
Across Asia-Pacific (APAC), regulators are opening up their markets to new entrants that promise to transform the traditional banking model. By leveraging digital platforms and cutting-edge technologies, virtual banks aim to offer more affordable and convenient banking services, and reach
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Singapore’s Cybersecurity Startup Map
Singapore’s cybersecurity industry is growing strong, with now some 105 unique startups, according to the Innovation Cybersecurity Ecosystem at Block71 (ICE71)’s latest Singapore Cybersecurity Community Map. Singapore Cybersecurity Startup Map These startups operate in cybersecurity and associated fields including
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With Mobile Payments on the Rise, Creator of QR Codes Thinks It Needs a Security Revamp
QR Codes were first invented in 1994 by Japanese engineer Masahiro Hara. When it was created for Denso, they were originally used for manufacturing and issuing tickets and coupons. Never in Masahori Hara’s wildest dream did he imagine that his
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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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