by Ferry Bayu | Sep 5, 2023 | Business
SM eyes opening 2 new malls this year, 5 next year
MANILA – SM Supermalls is planning to open two new malls this year and another five outlets by 2024, its President Steven Tan said on Monday.
The Sy-led group said it remains optimistic about growth in the retail industry, which is expected to get a boost from the onset of the “ber months” or the start of the holiday season. Shoppers usually flock to the malls as they prepare for the holiday season.
In a briefing ahead of SM Supermalls’ Tenant-Partners Summit, Tan told ABS-CBN News that they are also expecting higher demand in the coming months despite elevated inflation.
“People will come back to the malls… We had more serious crises but Filipinos are more resilient and love going out,” he said.
“There may be [a] shift in prioritization but we’re confident with the retail environment with ‘ber’ months and the shifting of the school year,” he added.
He also said the company’s performance in the first quarter was “even better than pre-pandemic level.” Tan also said they are boosting their online shopping platforms to offer more options for consumers.
by Ferry Bayu | Sep 5, 2023 | Business
NewJeans, Le Sserafim heading to the Philippines for 2023 Asia Artist Awards
MANILA, Philippines — K-pop girl groups NewJeans and Le Sserafim are included in the first line-up of artists attending the 2023 Asia Artist Awards (AAA) to be held in the Philippines this December.
It was announced earlier this week that the 2023 edition of the AAA would be held on December 14 at the Philippine Arena, just the third time the annual ceremony will be held outside of South Korea since starting in 2016 and the first in the Philippines.
Also in the first line-up of artists with NewJeans and Le Sserafim are fellow girl group NMIXX and the boy groups BOYNEXTDOOR and Zerobaseone, all of them from K-pop’s 4th generation though the boy groups are being pegged as the start of the 5th generation.
Last year, NewJeans won the Grand Prize for Performance of the Year while Le Sserafim was a winner for Best Musician; both groups also won the Rookie of the Year Award in the music category.
NMIXX also won two awards at the AAA last year held in Nagoya, Japan both in the music category as well, Best Emotive Award and the New Wave Award.
The AAA is organized by South Korean business newspaper Money Today and its global media brands MTN and StarNews, recognizing Asian artists from the fields of film, television and music.
Earlier this year, AAA 2022 winners Kim Seon-ho, Hwang Minhyun, Lee Jun-young and Kim Young-dae performed at the “Male God” concert which serves as a precursor to the AAA.
by Ferry Bayu | Sep 5, 2023 | Business
Certificate awarded to Responsible Cyber upon successful fulfilment of the criteria of the CSA Cyber Security Essentials Mark assessment
For many Small and Medium Enterprises (SMEs), limited budget and resources make purchasing a suite of next-gen cyber security tools (as large enterprises typically do) a luxury.
What SMEs can have in their arsenal, however, is a cost-effective baseline of security measures, outlined in a straightforward and proven framework, which they can readily implement to deter opportunistic cyber criminals with fairly basic equipment and not a whole lot of technical skills.
This is where the Cyber Essentials mark comes into play.
SINGAPORE, September 4 — Singaporean cyber security
start-up Responsible Cyber signed itself up for a cyber security audit that
would grant a third-party the information it needs to ascertain whether the organisation
is indeed equipped to protect itself (and therefore its clients, and its
clients’ clients) in the digital domain.
When asked why they did it, the co-founder
and Managing Director Dr Magda Chelly had this to say, “We cannot in good
conscience encourage other businesses to undertake rigorous cyber security
audits while not subjecting our own people, processes and technology to the
same scrutiny.”
“We wanted to demonstrate that adopting
cyber security best practices can be done without necessarily breaking the bank
or stretching resources thin, and I think we did just that.” she added.
Upon successfully passing the audit conducted
by one of CSA’s appointed certification bodies, Responsible Cyber was awarded the
Cyber Essentials mark, a cyber security certification introduced by the Cyber
Security Agency of Singapore (CSA) in 2022 as part of the SG Cyber Safe
Programme.
Frequent news of data breaches has fuelled
apprehension surrounding the security of personal data, prompting the demand
for heightened cyber security measures by businesses – and small and medium
enterprises (SMEs) are no exception.
SMEs may not have the luxury of a dedicated
IT security team, nor the ability to invest in robust cyber security measures
and tools, but there is hope yet, says Project and Compliance Manager Wayne Yan
who described the exercise as “fairly straightforward with ample guidance”.
“We reviewed our existing policies against the checklist that was
provided, and ensured that all required security controls were implemented and
reflected in our policies.”
For organisations that require additional
help, CSA has also made tailored cyber security toolkits freely available for
download on their official website.
As the name suggests, the Cyber Essentials
mark serves to distinguish organisations that have built a minimum level of
security into their operations. It provides a baseline from which organisations
can start to reduce their exposure to common cyber threats and vulnerabilities,
but it is far from a guarantee of protection against emerging threats.
“Safeguarding against threats is a
continuous journey, requiring constant vigilance and adaptation. We are
committed to the protection of the data with which we have been entrusted. We
hope that this sentiment gets reflected to our clients and that more cyber
security companies will take the opportunity to set the tone,” said Dr Chelly.
Every business – whether a small
organisation embarking on its digital journey or a large multi-national
corporation with digitalised business functions – needs to play its part.
Co-founder Mikko Laaksonen has added that they
would be gearing up for the Cyber Trust mark certification next, where
assessments will be even more rigorous, encompassing document review and
verification, as well as an evaluation of the implementation and effectiveness. — Responsible Cyber
Responsible Cyber Pte. Ltd is a Singapore-based cybersecurity and risk management start-up established in 2016 by industry veterans Magda Chelly and Mikko Laaksonen. Today, the company has a presence in the UK, France and Poland. Its corporate shareholders include Singtel Innov8 and NUS Enterprise. The company stands at the forefront of cyber security innovation with the introduction of two pioneering AI-powered products: IMMUNE X-TPRM and IMMUNE GRC.
IMMUNE X-TPRM is our answer to modern third-party risk management challenges. On the other hand, IMMUNE GRC is designed to streamline governance, risk, and compliance processes.
To learn more about Responsible Cyber, visit www.responsible-cyber.com
Magda Chelly
in**@***************er.com
by Ferry Bayu | Sep 5, 2023 | Business
BGC Group names Jarrod Reidy as Director: HR Outsourcing Alongside Enhanced EOR Services for the Asia Pacific Region
[Singapore, 05/09/2023] — BGC Group, a pioneering force in
the Recruitment & HR industry, proudly unveils two significant milestones
that are set to redefine its influence across the Asia Pacific Region.
Meet Jarrod Reidy: Driving HR Outsourcing
Excellence
BGC Group is thrilled to welcome Mr. Jarrod Reidy as the
Director of HR Outsourcing in APAC. With over a decade of experience, Mr. Reidy
has expertly guided international clients through the complexities of HR and
compliance landscapes across multiple countries. This aligns perfectly with BGC
Group’s commitment to delivering people-first solutions, supported by
technology.
Tristan Chew, CEO of BGC Group, emphasized the significance
of the appointment, stating, “Mr. Jarrod Reidy’s selection as the Director
of HR Outsourcing is a strategic move for our organization. His understanding
and experience in the region will undoubtedly elevate our HR outsourcing
initiatives and empower our clients to thrive in the ever-evolving HR landscape.”
In his new role, Mr. Reidy will be instrumental in
overseeing operations, fostering partnerships, driving sales, and shaping
marketing activities.
Enhanced EOR Services for the
Asia Pacific Region
In tandem with this leadership
addition, BGC Group unveils its elevated Employer of Record (EOR) services,
designed to support businesses expanding into the dynamic Asia Pacific Region.
Expanding into new markets, through
the establishment and maintenance of legal entities in each location, involves
risks, uncertainties, as well as significant time and cost, as businesses
navigate unfamiliar local regulations and compliance complexities.
BGC Group’s EOR solution streamlines
this process by utilizing its existing infrastructure and entities, serving as
the legal employer of workers, and managing all compliance, HR, payroll, benefits,
and administration tasks for clients.
“Our
EOR services provide businesses with an innovative expansion approach,”
confirmed Mr. Reidy. “Now covering 14 countries across APAC, we offer a
comprehensive turnkey solution, enabling organizations to go global whilst concentrating
on their core objectives.”
As BGC Group expands its
horizons with EOR services, it offers opportunities for businesses to navigate
new landscapes, access top talent, enable remote work, and drive strategic
growth without geographic limitations.
For further information or media inquiries, please contact: eo*@***************up.com.
BGC Group is a leading Recruitment, Employer of Record (EOR), HR & Payroll Outsourcing firm. Since our establishment in 2005, our highly experienced team has been at the forefront of providing hiring and compliance services.
by Ferry Bayu | Sep 4, 2023 | Business
Group-IB Exposes Scam-as-a-Service Operation Profiting USD $64.5 Million by Targeting APAC Brands
-Group-IB’s latest findings shed light on an ongoing scam-as-a-service operation known as Classiscam.
-Substantial Profits: This operation has already generated a staggering USD $64.5 million for the scammers.
-APAC Target: The operation’s primary focus has been targeting reputable brands within the Asia-Pacific (APAC) region.
Singapore, August 31, 2023 — Group-IB, a global cybersecurity leader headquartered in Singapore, can reveal that the scam-as-a-service operation Classiscam is continuing its worldwide campaign well into 2023. In a new blog, Group-IB analysts detail how the automated scheme uses Telegram bots to assist with the creation of ready-to-use phishing pages impersonating companies in a range of industries, including online marketplaces, classified sites, and logistics operators. These phishing pages are designed to steal money, payment data, and recently in some cases, bank login credentials from unsuspecting internet users.
According to Group-IB’s findings, 251 unique brands in a total of 79 countries were featured on Classiscam phishing pages from H1 2021 to H1 2023. In addition, the phishing templates created for each brand can be localized to different countries by editing the language and currency featured on the scam pages. As a result, one particular logistics brand was impersonated by “Classiscammers” targeting users in as many as 31 countries.
Within the APAC region, the country with the highest number of brands targeted by Classiscammers was Australia (34.6% of regional total). Other heavily affected countries were India (11.5%), Hong Kong (10.3%), Singapore (7.7%), Sri Lanka (7.7%), and Malaysia (5.1%).
Since the second half of 2019, when the Group-IB Computer Emergency Response Team (CERT-GIB) in cooperation with the company’s Digital Risk Protection unit first identified Classiscam’s operations, 1,366 separate groups leveraging this scheme have been discovered on Telegram. Group-IB experts examined Telegram channels containing information pertaining to 393 Classiscam groups with more than 38,000 members that operated between H1 2020 and H1 2023. During this period, these groups made combined estimated earnings of USD $64.5 million. Group-IB has noted how the threat actors behind Classiscam have worked, since inception, to formalize and expand the scam model’s operations. From 2022 onwards, Classiscammers have introduced new innovations, such as phishing schemes designed to harvest the credentials of victim’s online bank accounts, and some groups have begun to use information stealers.
In line with its mission of combating global cybercrime, Group-IB will continue to share its findings about Classiscam, drawn from the company’s proprietary Digital RIsk Protection solution, with law enforcement authorities. The primary aim of this research is to raise public awareness about the latest scamming methods and reduce the number of victims of this scam operation.
Gone global
Classiscam originally appeared in Russia, where the scheme was tried and tested before being launched across the globe. The scam-as-a-service affiliate program surged in popularity in spring 2020 with the emergence of COVID-19 and the subsequent uptick in remote working and online shopping.
Group-IB experts noticed how the scam scheme was exported first to Europe, before entering other global regions, such as the Asia-Pacific (APAC) region, the United States, and the Middle East and Africa (MEA). As of H1 2021, Classiscammers had targeted internet users in 30 countries. Group-IB experts can reveal that, as of H1 2023, this figure has risen to 79. In the same time period, the number of targeted brands on the global market has increased from 38 to 251.
More than 61% of the Classiscam resources analyzed by Group-IB experts that were created between H1 2021 and H1 2023 targeted users in Europe. Other heavily targeted regions were the Middle East and Africa (18.7% of resources) and the Asia-Pacific region (12.2%). A full breakdown of the share of targeted brands by region can be found in Figure 2 (below).
Within the APAC region, the country with the highest number of targeted brands was Australia (34.6% of regional total). Other heavily affected countries were India (11.5%), Hong Kong (10.3%), Singapore (7.7%), Sri Lanka (7.7%), and Malaysia (5.1%).
The average amount lost by Classiscam victims worldwide was $353, although UK users lost the most, on average, to Classiscammers, as the average fraudulent transaction was $865. Users in APAC and MEA were less likely to fall victim to Classiscam schemes, although victims in Singapore lost $682 on average to the scam. In Australia, this figure was $515, and in Saudi Arabia (MEA), successful Classiscam schemes saw victims lose, on average, $525.
Figure 4: Leaders in average amount charged per fraudulent Classiscam transaction in H1 2023
What’s new?
Classiscam was initially launched as a relatively straightforward scam operation. Cybercriminals created fake ads on classified sites, and leveraged social engineering techniques to trick users into “buying” the falsely-advertised goods or services, whether by transferring money directly to the scammers or by debiting money from the victim’s bank card.
Classiscam operations have become increasingly automated over the past two years. The scheme now utilizes Telegram bots and chats to coordinate operations and create phishing and scam pages in a handful of seconds, and many of the groups offer easy-to-follow instructions, and experts are on hand to help with other users’ questions. A full rundown of how the Classiscam scheme works in practice is provided in the below Figure 6.
Over the past year, Group-IB researchers have seen roles within scam groups become more specialized within an expanded hierarchy. Classiscam phishing pages can now include a balance check, which the scammers use to assess how much they can charge to a victim’s card, and fake bank login pages that they use to harvest users’ credentials. At the time of writing, Group-IB experts found 35 such scam groups that distributed links to phishing pages that include fake login forms for banking services. In total, Classiscam scammers created resources emulating the login pages of 63 banks in 14 countries. Among the targeted banks were those based in Belgium, Canada, Czech Republic, France, Germany, Poland, Singapore, and Spain.
“Classiscam shows no sign of slowing down and the ranks of the Classiscammers are continuing to swell. Over the past year, we have seen scam groups adopt a new, expanded hierarchy, and roles within organizations are becoming increasingly specialized. Classiscam will likely remain one of the major global scam operations throughout 2023 due to the scheme’s full automation and low technical barrier of entry,” Afiq Sasman, Head of Group-IB’s Computer Emergency Response Team in the Asia Pacific, said.
Group-IB will continue to monitor global Classiscam campaigns, engaging with both law enforcement and affected brands to assist in efforts to take down these scams. Companies whose brand and likeness are impersonated by scammers are recommended to leverage Digital Risk Protection solutions that can actively monitor, identify, and take down phishing domains.
PINPOINT PR is assisting Group-IB with media relations.
Group-IB, with its headquarters in Singapore, is one of the leading solutions providers dedicated to detecting and preventing cyberattacks, investigating high-tech crimes, identifying online fraud, and protecting intellectual property. The company’s Threat Intelligence and Research Centers are located in the Middle East (Dubai), Asia-Pacific (Singapore), and Europe (Amsterdam).
Group-IB’s Unified Risk Platform is an ecosystem of solutions that understands each organization’s threat profile and tailors defenses against them in real-time from a single interface. The Unified Risk Platform provides complete coverage of the cyber response chain. Group-IB’s products and services consolidated in Group-IB’s Unified Risk Platform include Group-IB’s Threat Intelligence, Managed XDR, Digital Risk Protection, Fraud Protection, Attack, Surface Management, Business Email Protection, Audit & Consulting, Education & Training, Digital Forensics & Incident Response, Managed Detection & Response, and Cyber Investigations.
Group-IB’s Threat Intelligence system has been named one of the best in its class by Gartner, Forrester, and IDC. Group-IB’s Managed XDR, intended for proactively searching for and protecting against complex and previously unknown cyber threats, has been recognized as one of the market leaders in the Network Detection and Response category by KuppingerCole Analysts AG, the leading European analyst agency, while Group-IB itself has been recognized as a Product Leader and an Innovation Leader.
Gartner has named Group-IB a Representative Vendor in Online Fraud Detection for its Fraud Protection. In addition, Group-IB was granted Frost & Sullivan’s Innovation Excellence award for Digital Risk Protection (DRP), an Al-driven platform for identifying and mitigating digital risks and counteracting brand impersonation attacks, with the company’s patented technologies at its core. Group-IB’s technological leadership and R&D capabilities are built on the company’s 20 years of hands-on experience in cybercrime investigations worldwide and over 70,000 hours of cybersecurity incident response accumulated in our leading DFIR Laboratory, High-Tech Crime Investigations Department, and round-the-clock CERT-GIB.
Group-IB is an active partner in global investigations led by international law enforcement organizations such as Europol and INTERPOL. Group-IB is also a member of the Europol European Cybercrime Centre’s (EC3) Advisory Group on Internet Security, which was created to foster closer cooperation between Europol and its leading non-law enforcement partners.
Group-IB’s experience in threat hunting and cyber intelligence has been fused into an ecosystem of highly sophisticated software and hardware solutions designed to monitor, identify, and prevent cyberattacks. Group-IB’s mission is to protect its clients in cyberspace every day by creating and leveraging innovative solutions and services.
For more information, please contact:
**@******ib.com
+65 3159-3798
https://www.group-ib.com
https://www.group-ib.com/blog
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