Data Management Firm fails to protect Customer Data of over 180,000 people
A data management firm in Hong Kong has been under fire from Hong Kong privacy watchdog for failing to protect the data of its customers – a possible exposure of credit histories of 180,000 people. The firm did not have sufficient measures to protect the...
The Threat of Deepfakes in Identity Fraud
A recent survey found that AI-generated identity fraud like deepfakes affect a third of businesses. It revealed that 37% of organizations had experienced deepfake voice fraud, and 29% had fallen victim to deepfake videos. As AI can be leveraged to create increasingly...
Visa is introducing the Visa Integrity Risk Program (VIRP), on 1 May 2023
The Visa Integrity Risk Program (VIRP) will replace Visa’s current Global Brand Protection Program (GBPP), and will subsequently enforce the term “High-Integrity Risk Merchants” in place of its current “High-Brand Risk Merchants”. The...
Increase in e-commerce during pandemic, means increase in online money laundering
As a result of the pandemic, e-commerce has boomed for the past two years. At the same time, the opportunity to use online transactions (especially credit cards) to attempt money laundering has also increased. According to the Electronic Transactions Association (ETA)...
Mastercard’s New Rules for Adult Content and Services – Will this Affect You?
Mastercard’s New Rules for Adult Content and Services – Will this Affect You? Effective on October 15 2021, Mastercard announced its recent changes and updates to adult content and services, which will directly affect all merchants in this category. The new...
Know Your Transaction (KYT) Guide 2021
Know Your Transaction (KYT) is a hot trend in payment compliance and regulatory technology. All payment risk professionals are advised to learn and adopt KYT in their daily operations. In this guide, you will gain an understanding of the followings. What...
Transaction Laundering in 2019 – Time to Review the Monitoring Strategy
The rapid development and rising volume of e-commerce transactions in recent years has encouraged the outbreak of cybercriminals – who are finding more and more complex ways to conceal profits that are likely to have been earned illegally, via an online environment....
Trend of Child Sexual Abuse – Insights on Online Payment Regulations
Child exploitation is an alarming problem throughout whole world. It particularly threatens the safety of children in developing or underdeveloped countries, where poverty is the biggest cause of child abuse or child sex tourism. Owing to the technology...