Digital Remittances on the Rise: Visa Study Finds 53% of Consumers Turn to Apps for International Money Transfers
Visa has released a research report called “Money Travels: 2023 Digital Remittances Adoption,” which surveyed over 14,000 consumers across ten countries, showing that digital remittances are becoming the most popular way to send money internationally. This study showed that 53% of consumers surveyed are turning to digital apps to send and receive funds globally, with app-based digital payments being considered the most...
Financial Phishing: A Growing Threat to Businesses in Southeast Asia
Phishing is a prevalent form of cybercrime that works by using carefully crafted emails or notifications to trick users into giving up their payment or personal details or downloading malicious programs. Financial phishing is a type of phishing that targets payment systems and e-shops, and it is a growing problem in Southeast Asia. In 2022, Kaspersky blocked a total of 822,536 financial phishing attempts targeted at companies in the...
Malaysian Organizations Emphasize Borderless Opportunities to Boost Local Businesses at Petal Ads Summit 2023
Several organizations including Tourism Malaysia and the Malaysia Digital Economy Corporation (MDEC) recently highlighted the importance of borderless opportunities in boosting local businesses and industries. During the Petal Ads Summit 2023, the organizations discussed challenges in the current economy and the role of mobile advertising in accelerating brand efforts. Petal Ads, a mobile advertising platform co-organized by Huawei...
Malaysian Still Not Required to Pay 10% Tax on Online Overseas Shopping Below RM500
The Malaysian government has postponed the collection of a 10% tax on online overseas shopping below RM500 (about $120 USD) until further notice. The tax was initially planned to be implemented on 1 April 2023, but due to public feedback and concerns, the government has decided to postpone the tax until they can review and address the issues raised. The government is also looking into alternative methods of imposing the tax. Source:...
Kaspersky Report: Cybercriminals Launch More Than 7 Million Attacks on Children Through Popular Games in 2022
Cybercriminals targeted young players in online gaming with more than 7 million attacks in 2022, according to a report by Kaspersky. The report, titled “The Dark Side of Kids’ Virtual Gaming Worlds”, showed that focused attacks on this age group increased by 57% compared to 2021, with phishing pages used to target young players mostly mimicking global game titles including Roblox, Minecraft, Fortnite, and Apex...
7 Tips for Using WhatsApp to Connect with Loved Ones During Ramadan
Ramadan, a holy month of reflection and togetherness, is a time when people spend more time with family and friends, plan community meets, and organise charity events. With the ease of WhatsApp, much of this planning and organising can be done within the privacy of chats. Here are some tips and ideas for using WhatsApp effectively to create new memories with loved ones this Ramadan. Plan your virtual iftar Breaking fast during Ramadan...
ChatGPT for Cybersecurity Defenses
Sophos, a leading cybersecurity service provider, has released new research showcasing the potential of GPT-3, the language model that powers ChatGPT, as a co-pilot to help defeat cyber attackers. The report titled “GPT for You and Me: Applying AI Language Processing to Cyber Defenses” describes the projects developed by Sophos X-Ops using GPT-3’s large language models. These projects simplify the search for...
AmBank Partners with CGC to Help MSME
AmBank Group and Credit Guarantee Corporation Malaysia Bhd (CGC) have extended their financing facilities by RM400 million under the SME Portfolio Guarantee Scheme, to support local micro, small & medium enterprises (MSMEs), especially those in e-commerce. This will benefit around 800 businesses, and eligible SMEs can apply for financing facilities of up to RM1 million with repayment tenure of up to seven years, where 70% of the...
GHL Teams Up LGMS to Enhance Security Protection Over Card Data
LGMS Berhad (LGMS) and GHL Systems Berhad (GHL) have joined forces to enhance PCI (Payment Card Industry) security standards compliance for the merchant ecosystem, which has been developed by LGMS to strengthen the security of the payments landscape for consumers and businesses. The collaboration was marked by a signing ceremony attended by LGMS Executive Chairman Fong Choong-Fook and Executive Director Goh Soon Sei, and GHL System...
Malicious Mailings Targeting Malaysia Put the Country in the Top Ten of 2022
Kaspersky, a leading cybersecurity company, has reported a significant increase in the number of malicious email attachments in 2022 compared to the previous year. According to their data, 18 million more attachments were detected, with the highest number of triggers occurring in March, May, and June. In Malaysia, the percentage of such threats rose from 2.62% in 2021 to nearly 3% in 2022. The email attachments that Malaysian users...
