The issue of security in mobile payments have sparked controversies due to a recent spate of scams involving ‘quick response’ (QR) codes in China’s Guandong province where it was reported that RM 55 million was stolen.
According to Ivan Wen, General Manager of Quann Malaysia, there has been a number of cases where criminals have started using fake QR codes to steal data and money by sticking their own codes over a business’ original one to steal the scanner’s data or access the scanner’s smartphone to tap into their bank account.
Companies across the Association of Southeast Asian Nations (ASEAN) bloc face growing risk of cyberattacks, which could expose the region’s top listed firms to a US$750 billion (RM3 trillion) erosion in current market capitalization, according to new research commissioned by Cisco.
The research, conducted by global management consulting firm A.T. Kearney, stresses that ASEAN’s growing strategic relevance, driven by economic expansion and ongoing digital adoption, make it a prime target for cyberattacks.
Parents in Malaysia are not cutting the financial umbilical cord, with 57% of people with children over the age of 18 still giving them regular financial support, according to HSBC’s new The Power of Protection study, Facing the future.
The study highlights parents’ ongoing commitment to their children, as well as the financial pressures faced by younger generations. The Power of Protection is an independent consumer research study into global protection needs and trends, commissioned by HSBC. It provides authoritative insights into people’s concerns about the future and how they are protecting themselves financially, around the world.