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Source: Apple Apple says it prevented over 1.6 million risky and untrustworthy apps and app updates from reaching the App Store and stopped over $1.5 billion in fraudulent transactions in 2021. Apple produced its first fraud prevention analysis last year, detailing it had prevented one million potentially bad apps from the App Store and protected customers […] More
StackCommerce The following content is brought to you by ZDNet partners. If you buy a product featured here, we may earn an affiliate commission or other compensation. With the sophistication of today’s hackers, everyone should be using a VPN, even at home. But if you’re running a business, constantly tuning in to international radio, or […] More
Singapore has officially launched a centralised data platform that it says will streamline information flows across a fragmented global supply chain. The data exchange already has garnered at least 70 participants that include logistics operators, banks, and energy companies. Called Singapore Trade Data Exchange (SGTraDex), the common data platform was first introduced in November 2020 as a pilot that aimed to improve data efficiencies in container flow and financial processes. The project is led by Alliance for Action (AFA) on Supply Chain Digitalisation, one of seven industry groups the government had established to identify and prototype new ideas to drive the local economy. The other alliances focus on key growth areas such as robotics, e-commerce, and environmental sustainability.SGTraDex is described as a “common data highway” to facilitate information exchange between proponents across the supply chain ecosystem, providing “trusted, secure, and inclusive” access. The platform uses proprietary technology to plug gaps in supply chains, which traditionally had relied heavily on a paper-based system that lacked efficiency, transparency, and sustainability. It verifies documents using the TradeTrust framework and distributed ledger technology, providing participants with proof of authenticity and origins of the documents exchanged on SGTraDex. Built on blockchain technology, TradeTrust is touted as a common infrastructure to enable secured exchange of digital documentation between trade partners, including government agencies and private organisations. Digitising data flows would boost supply chain resilience and productivity, enabling new opportunities as partners in the ecosystem would have common visibility of the entire supply chain, SGTraDex. The data platform is touted to “unlock” at least $100 million in value, by 2026, for participants through cost savings from better efficiency, optimised use of assets, and faster access to financing. More than 70 participants were announced alongside its launch, including DBS Bank, Standard Chartered Bank, Trafigura, Jurong Port, Pacific International Lines, Ocean Network Express, ExxonMobil Asia-Pacific, and Chevron.SGTraDex lists 11 organisations as its founders, which include Singapore’s ICT regulator Infocomm Media Development Authority, PSA, OCBC Bank, and Oiltanking. Amongst use cases it cited, SGTraDex said the platform would ease data exchange between shipping lines, hauliers, and port operators to improve planning and increase asset utilisation. This market segment traditionally faced challenges with limited and slow access to data, resulting in congestion at ports and other transport nodes. Several pilots were run on SGTraDex over the past year, including a live bunker delivery financing transaction carried out with an electronic bunker delivery note. Participants in this pilot included DBS, TFG Marine, Ocean Network Express, and Ascenz.SGTraDex Services CEO Antoine Cadoux said: “Digitalisation has transformed many sectors, but in the global supply chain and trade sector, its promise has yet to materialise. The physical exchange of paper remains the norm. “We believe the plug-and-play digital infrastructure we have created at SGTraDex will go a long way to make it easy for all participants to share data under an agreed set of rules,” Cadoux said. “Our goal at SGTraDex is to enable global trade to happen more quickly, more reliably, and with higher integrity.”SGTraDex Technologies CEO Liau Eng Soon added that participants would have “complete autonomy” in the types of data they shared with their ecosystem partners. “No one will be forced to share confidential information,” Liau said.RELATED COVERAGE More
Choose to set up Windows 10 or 11 with a local account, and you’re required to select three security questions to answer if you ever get locked out. Those questions include the typical ones, such as your first pet’s name, the first name of your oldest cousin, and the name of your first school. But […] More
Credit: Microsoft Two years ago, Microsoft officials announced the next versions of on-premises Exchange Server, SharePoint Server, Skype for Business Server, and Project Server would be available in the second half of 2021. The catch: All would require a subscription to get support, product updates, and security updates. SharePoint Server and Project Server Subscription Editions […] More
This software is licensed, not sold. That sentence, which has scrolled past PC users’ eyeballs for decades as they click through Windows license agreements without reading them, is what made Bill Gates rich. It is also the gateway to an insanely confusing thicket of legal verbiage, and Microsoft has made the topic even more bewildering […] More
Are you getting a ton of spam text messages? How annoying is it to be interrupted with a notification on your iPhone, only for it to be yet another junk message? Here’s a secret: you can make these go away using a feature already in iOS. It’s just a little hidden. Here’s how you do […] More
Banks in Singapore will have to provide a “kill switch” as part of a new slew of security measures to safeguard against growing online scams. Consumers also are urged to access their accounts via mobile banking apps, instead of web browsers, to minimise risks. The latest set of measures would complement those introduced in January this year, shortly after a spat of online scams involving OCBC Bank customers resulted in losses of more than SG$8.5 million ($6.32 million).The new measures were unveiled Thursday and expected to come into effect by October 31 this year, according to the Monetary Authority of Singapore (MAS) and Association of Banks in Singapore (ABS). Local banks would progressively roll out the latest round of measures, which included setting the default transaction limit for online funds transfers to no higher than SG$5,000 and requiring additional confirmation from customers to process “significant changes” to their accounts. Further confirmations also would be required for high-risk transactions identified through fraud surveillance. Banks also must assign bank staff to the Singapore Police Force Anti-Scam Centre, in order to facilitate “rapid” account freezing and fund recovery operations. The emergency self-service kill switch must enable customers to suspend their accounts quickly should they suspect a security breach, MAS said. It added that banks were expected to enhance their fraud surveillance systems to address a broader range of scam scenarios. The industry regulator also urged consumers to use mobile banking apps, instead of web browsers, to access their accounts in order to minimise the risks of navigating to fraudulent websites.To drive mobile use, banks would improve the functionality of their apps and help their customers transition towards greater adoption of mobile apps, MAS said. In the OCBC scams, scammers had manipulated SMS Sender ID details to push out messages that appeared to be from the bank, urging the victims to resolve issues with their bank accounts. They then were redirected to phishing websites and instructed to key in their bank login details, including username, PIN, and One-Time Password (OTP). In its statement Thursday, MAS reminded consumers that they, too, played a role combating scams and must keep up with online banking hygiene practices as scam tactics evolved. These included updating themselves on scam advisories and alerts issued by the police and banks, and referring to official sources such as MAS Financial Institution Directory and hotline numbers to communicate with banks;MAS said: “The ongoing fight against scams requires an ecosystem approach, with all stakeholders playing their part in staying vigilant and guarding against scams. A draft framework aimed at achieving an equitable loss sharing between consumers and financial institutions is being finalised and will be put up for public consultation as part of a revised E-Payments User Protection Guidelines soon.”OCBC in February introduced its kill switch, allowing customers to cut access to all their accounts if they suspected their personal data had been compromised. When activated, the kill switch would freeze all accounts including digital banking, e-payment, ATM access, and credit cards. Customers would need to call the Singapore bank’s hotline and use option “8” to trigger the kill switch, or do so via OCBC’s network of 500 ATMs. RELATED COVERAGE More
