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Tag: Singapore

  • Australian police make first arrest in Optus hack probe

    Australian police make first arrest in Optus hack probe

    CANBERRA, Australia (AP) — A police investigation of a cyberattack on an Australian telecommunications company in which the personal data of more than one third of Australia’s population was stolen has resulted in its first arrest, investigators said Thursday.

    Police launched Operation Hurricane in cooperation with the U.S. Federal Bureau Investigation after Optus, Australia’s second-largest wireless carrier, lost the personal records of 9.8 million current and former customers on Sept. 21.

    The hacker dumped the records of 10,000 of those customers on the dark web last week as part of an attempt to extort $1 million from Optus, a subsidiary of Singapore Telecommunications Ltd., also known as Singtel.

    A 19-year-old Sydney man was arrested on Thursday and charged with using the dumped data in a text message blackmail scam, police said in a statement.

    The man, who has not been identified publicly, has yet to appear in court on two charges that carry prison sentences of up to 10 and seven years.

    Police allege he sent text messages to 93 Optus customers demanding 2,000 Australian dollars ($1,300) be deposed in a bank account or the data would be used in a financial crime. None of the targets paid.

    One of the extortion targets, identified only as Belinda and described as a mother of a 5-year-old child with cancer, told Nine Network News last week, “To be honest, it’s just not what we need.”

    “I guess they’re just trying to hopefully pressure people into paying,” she told Nine.

    Australian Federal Police Assistant Commissioner Justine Gough said the investigation is continuing.

    “The Hurricane investigation is a high priority for the AFP and we are aggressively pursuing all lines of inquiry to identify those behind the attack,” Gough said.

    “Just because there has been one arrest does not mean there won’t be any more arrests,” she added.

    The Australian government announced changes to its telecommunications law to protect vulnerable Optus customers.

    The changes to the Telecommunications Regulations allow Optus and other providers to better coordinate with financial institutions and governments to detect and mitigate the risk of cybersecurity incidents, fraud, scams and other malicious cyber activities, a government statement said.

    Optus ran full-page ads in Australian newspapers on Saturday under the headline, “We’re deeply sorry.”

    The ad included a link to an Optus website that details actions that customers can take to avoid identity theft and fraud.

    The government can change regulations without legislative approval. But the government hopes to pass changes to the Privacy Act in Parliament during the final four weeks of its 2022 session in response to the Optus breach.

    The changes would include increased penalties for companies with lax cybersecurity protections and curbs on the quantities and types of customer data that businesses can amass, as well as the duration for which personal information can be kept.

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  • $3 billion crypto bank Anchorage Digital pushes into Asia

    $3 billion crypto bank Anchorage Digital pushes into Asia

    The digital asset platform Anchorage Digital announced today that it has expanded into Asia with five institutional partners, including the Thailand-based crypto exchange Bitkub and the Singapore-based blockchain investment firm FBG Capital.  

    Anchorage is valued at over $3 billion with backers including Andreessen Horowitz and GIC, Singapore’s sovereign wealth fund. Its push into Asia displays a new direction for the company, with co-founder and president Diogo Mónica telling Fortune that he expects Asia to represent up to 25% of Anchorage’s business within the next 18 months, with an emphasis on Singapore.

    “It’s an exciting market as everyone is moving away from Hong Kong and aggregating around an amazing regulator in the Monetary Authority of Singapore,” he said.

    Founded in 2017, Anchorage has found a niche by working with large businesses rather than retail customers. As the first and only federally charted crypto-native bank, Anchorage provides a number of crypto-based services to major institutions—from banks to venture capital firms to sovereign wealth funds—such as custody, buying and selling, and generating returns through various financial instruments.

    “Audits and having oversight really is important for the space.” 

    Co-founder and president Diogo Mónica

    As traditional financial institutions continue to move into crypto, Anchorage offers an appealing service thanks to its regulatory position—something that Mónica said would be harder to achieve now given the current crackdowns of U.S. agencies, including the Treasury Department, the Securities and Exchange Commission, and the Commodity Futures Trading Commission.

    “Given crypto conditions, the tone has shifted because the market has shifted,” Mónica said. “[Anchorage] demonstrates that audits and having oversight really is important for the space.”  

    Asia is Anchorage’s first major international push. Southeast Asia in particular is a hotspot for crypto development, with three of the top 10 countries in Chainalysis’s recent global adoption index being Vietnam, the Philippines, and Thailand. With many companies moving out of Hong Kong given the hostility of the Chinese government, Singapore has emerged as a hub.

    Despite the country’s ascendance, recent remarks by Monetary Authority of Singapore Managing Director Ravi Menon have raised doubts about its future. Several of the highest-profile crypto collapses have been based in Singapore, including the hedge fund Three Arrows Capital and the algorithmic stablecoin project TerraUSD, with Menon signaling that the government needs to create more consumer protection measures. 

    Mónica said that because Anchorage works with businesses, not retail customers, he welcomes increased regulation. 

    “Compared to the U.S., with its infighting between regulators and turf wars, it’s a breath of fresh air to have one regulator [in Singapore],” he told Fortune. “From a tone and tenor perspective, it’s still pro-crypto, although more focused on consumer protections.” 

    Leo Schwartz

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  • Raffles Place’s Leading Preschool, Tots & Teddies, Wins the 2021 ThreeBestRated Award

    Raffles Place’s Leading Preschool, Tots & Teddies, Wins the 2021 ThreeBestRated Award

    Press Release



    updated: Apr 5, 2021

    Tots & Teddies, one of the top-rated pre-schools in Raffles Place, has been bestowed with the 2021 ThreeBestRated® award. Its founder, Oliver Houchin, is excited to receive the award. He says, “We appreciate the recognition as it means we can share our philosophy with more parents who may be looking for quality care for their little ones.”

    Tots & Teddies had to undergo a rigorous 50-point inspection conducted by the ThreeBestRated expert team to receive this honour. The 50-point inspection involves checking various aspects of the pre-school, which includes ratings, reputation, history, complaints, satisfaction, trust and price to the general excellence.

    How it all started?

    Oliver Houchin started the pre-school after he and his wife faced difficulty in finding a best quality pre-school in Singapore for their daughter. They couldn’t find a pre-school that offered quality care and food with a well-balanced P1-ready curriculum. Oliver decided to quit his job and start Tots & Teddies to provide the best quality infant and children service in Singapore. Oliver says, “In Singapore, most pre-schools are a business that happens to be a pre-school. We are a pre-school first and foremost. We care about the details that others don’t.”

    What is unique?

    Tots & Teddies has professional in-house chefs to prepare quality food for their children. The food they provide is always freshly prepared (including pasta made in-house with cage free eggs, fresh bread, waffles and even soya bean milk), and the menu is designed by a paediatric nutritionist. They also offer a single all-inclusive fee, which means they render several high-quality extracurricular activities such as STEM, speech and drama, Chinese wushu, sports and all excursions without any extra fees. Oliver says, “To the best of my knowledge, we are the only pre-school offering this structure to ensure that children are provided with broad exposure every day.”

    The pre-school consistently strives to improve their standards. Oliver says, “We are particularly proud of the standard we have set when it comes to food and our immersive Mandarin and English bilingual curriculum.” He says it is highly rewarding to see children every time they graduate from Tots & Teddies. Oliver says, “Infants join us when they are just a few months old and leave to transition into Primary school at seven years old. During that time, they spend more time with us than they do at home. Our responsibility during this period is so important – from safety and hygiene through to imparting good values. We are proud every time a child ‘graduates’ from our pre-school and have a strong foundation to start primary school.”

    Tots & Teddies’ CBD location allows working parents to spend more time with their children and increases partnership with the school. They are currently expanding the school to another CBD location to provide more parents with a quality infant and pre-school care. Visit their website to know more about their services.

    Source: ThreeBestRated

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  • As Political Unrest Continues, HK-Based Businesses and Professionals Look to Singapore

    As Political Unrest Continues, HK-Based Businesses and Professionals Look to Singapore

    A veteran immigration consultant noted that there has been a sharp increase in interested entrepreneurs and professionals who are looking to move to Singapore as Hong Kong’s political future remains uncertain.

    Press Release



    updated: Sep 12, 2019

    ​​Amid a volatile political climate, Hong Kong-based entrepreneurs and professionals are looking to migrate their businesses and careers to another Asian powerhouse.

    According to One Visa Immigration Consultant Cheng King Heng, there has been “200% increase” in inquiries about migrating to Singapore, mostly from workers and business owners who are currently based in Hong Kong. The heightened interest is driven by the uncertainty of Hong Kong’s current political situation, following months of pro-democracy protests that began over a proposed and now-withdrawn bill that would have allowed extradition to mainland China.

    “As Asia’s Lion City, Singapore is a known business hub. This shift in interest is not at all unusual,” he said. “Both Hong Kong and Singapore are top destinations for entrepreneurs and professionals who want access to a global market from a strategic regional headquarters.”

    Earlier this year, Singapore was named as the world’s most competitive economy because of its business-friendly landscape, favourable immigration policies, competitive labour market and advanced IT infrastructure. Hong Kong was ranked second in the report and former number one U.S. moved down two spots to third.

    A World Bank list released last year also cited Singapore as the top country when it comes to “success in developing human capital.” The ranking was based on factors such as health, education, earning potential, future productivity as well as mortality and survivability rates.

    And in another survey among expatriates, it was found that, even though expats earned more in Hong Kong, Singapore was still considered the “best place to live.”

    For global companies and entrepreneurs, Singapore has always been a top choice because of tax benefits including tax-free dividends, world-class transport hubs particularly the Changi Airport which has been ranked as the World’s Best Airport since 2013, and a generally accommodating business environment.

    Heng added, “As it is, employment and business applications to Singapore are competitive. With the current developments in Hong Kong and the influx of interested parties, it is best to stay ahead of the curve and get professional help when it comes to relocation plans. There are many ins and outs that must be navigated, and the insights of an immigration expert are invaluable to a successful outcome.”

    Visit www.one-visa.com for more information.

    ***

    One Visa is a Singapore-based global immigration agency specialising in visa solutions for corporate professionals, entrepreneurs and investors.

    Media Contact:

    Zac Wong
    ​media@one-visa.com

    Source: One Visa Pte Ltd

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  • Fintech Start-Up fidentiaX Introduces World’s 1st Marketplace for Tradable Insurance Policies

    Fintech Start-Up fidentiaX Introduces World’s 1st Marketplace for Tradable Insurance Policies

    fidentiaX is building the World’s First Marketplace for tradable insurance policies by leveraging on blockchain technology

    Press Release



    updated: Oct 15, 2017

    Fintech start-up fidentiaX is in the developmental phase of creating the world’s first marketplace for tradable insurance policies by disrupting the status quo by empowering policyholders to monetise policies on the blockchain. fidentiaX will also be setting up fidentiaX Open Source Foundation (fSOF) to proliferate the embracing of blockchain technology for the insurance industry.

    In 2016 alone, the total market size for insurance premiums in the 40 OECD reporting countries was estimated to be in the north of $3.86 trillion dollars and Asia is projected to the be fastest-growing market for life insurance with an estimated real annual compounded growth rate of 10.2%.

    The tradable insurance market is faced with inefficiencies such as:

    Lack of awareness – Policyholders are unaware that policies are tradable assets which could be sold in the open market for a higher value. In 2015, out of the US$112 billion worth of policies surrendered in the U.S., US$57 billion (estimated 250,000 policies) could be resold.

    No Recognizable Marketplace – The lack of a recognizable marketplace makes it challenging for sellers and buyers to connect.

    Dependency on 3rd party – In the rare occasion where seller and buyer actually connects, parties need to place trust on a 3rd party to effect the transaction.

    fidentiaX’s marketplace will be a membership-based ecosystem focusing on the key stakeholders and providing the following services:

    Policy ledger – Break traditional reliance on intermediaries by creating a digital ledger for policyholders.

    Trustless Marketplace – Provides a platform for buyers and sellers to connect and trade policies via the blockchain.

    fidentiaX will focus on building its operations within Asia before executing its global expansion strategy. Key countries within Asia are Hong Kong, Japan, Korea, Malaysia and Singapore.

    To learn more, please visit fidentiaX’s official website at https://www.fidentiax.com and stay updated on their Crowd Token Contribution launch announcement by subscribing to their mailing list. Stay connected through their social channels:

    Join us on Telegram Channel at https://t.me/fidentiaX
    Follow us on Facebook – https://www.facebook.com/fidentiaX
    Follow us on Twitter – https://twitter.com/fidentiaX

    Media Contact:
    Name: Alvin Ang
    Email: Alvin.A@fidentiaX.com
    City and Country Location: Singapore

    fidentiaX is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

    Source: FidentiaX

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  • Novomatic set to present trend-setting highlights at G2E Asia in Singapore | Yogonet International

    Novomatic set to present trend-setting highlights at G2E Asia in Singapore | Yogonet International

    Gaming tech company Novomatic has announced that it will be present at this year’s G2E Asia, which will take place from May 31st to June 1st t the Marina Bay Sands in Singapore.  The company describes it an exciting array of multi-games and Progressives, powerful ETGs and innovative sports betting kiosks, presented in a stunning range of cabinet hardware.

    Novomatic will be present at stand A338-B and can discover a portfolio and diversity of Novomatic Technologies. The stand’s main attraction will be its latest cabinet launch, Black Edition II in two versions. The company notes that Black Edition II 3.27 is the true successor of the original Black Edition with a setup of three characteristically angled 27” screens whereas the Black Edition II 1.49J, which exemplifies a modern approach, featuring a 49” J-curve monitor for the constant growing range of Novomatic upright games and progressive titles.

    Other cabinet highlights on display in Singapore will be the Diamond X 3.32 and 1.55J cabinet versions. This cabinet design secured second place at the recent Global Gaming Awards in London in the category “Product Launch of the Year” and has made a top impact in terms of customer interest and performance feedback right from the start. 

    The Diamond X 1.55J was the first Novomatic upright machine with the J-curve single-screen monitor, which gives it a very sophisticated and modern look, especially with the indirect LED lighting concept. The company notes that the product will be on show at the G2E Asia with the exclusive Xrension Link in a top-performing set-up that yields clear above-floor-average and in many cases top-floor performance in numerous casinos across different markets.Novomatic Xtension LinkThe show will also feature progressive highlights at the show including the Superia Golden Link Volume 1 and Superia Cash Connection Volume 2 linked multi-games, each with a gripping selection of titles, either with four jackpot levels or with two jackpot levels plus free games instead of Mini and Minor. The company notes that the Impera Line HD Edition 9 and Novo Line Interactive Edition X4 multi-game compendiums complement the slot display with sophisticated offers comprising both player favourites and new game releases.

    For the region’s traditional demand for premium ETG solutions, Novomatic will display the latest slant top releases, Executive SL 1.27 and Lotus SL 1.27 in a show set-up with the new Multi-Roulette wheel.

    Premiering in the region will be the state-of-the-art sports betting kiosks: The table-top version Novomatic ActionBook Compact and the multi-screen version Novomatic ActionBook Plus deliver the perfect kiosk hardware solutions for all kinds of space and positioning requirements. Both are constantly growing their footprint internationally as well as in the US as more and more jurisdictions legalize sports betting and operators seek to expand their offer.

    Thomas Schmalzer, VP of Global Sales and VP of Product Management Novomatic AG, in a statement, said: “We are excited to be returning to the G2E Asia and thrilled to present our top-performing portfolio of solutions for a region that has been affected unlike any other during the past few years. We have an exceptional range of new products and attractive highlights with a great appeal for the region to show.”  

    Additionally, Novomatic has announced that it will be present at this year’s Peru Gaming Show (PGS) 2023, which is set to take place on June 14-15 at the Jockey Exposition Center in Lima. Novomatic’s planned show portfolio promises a premium selection of all the latest product highlights which include sophisticated cabinets with exciting Progressives, and powerful ETG. It will also feature an innovative casino management system, trending sports betting kiosks and top-performing online gaming solutions. Novomatic will be present on stand number 53 at this year’s PGS.

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