Connect with us

Technology

BioCatch partners with Australian banks on launch of fraud and scams intelligence-sharing network

Published

on

ANZ, CBA, NAB, Suncorp Bank, Westpac form inaugural core of BioCatch Trust™ partners

SYDNEY, Nov. 20, 2024 /PRNewswire/ — Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Suncorp Bank (Norfina Limited), and Westpac today announced they’d joined BioCatch Trust™ Australia, a pilot of the world’s first inter-bank, behavior- and device-based, fraud and scams intelligence-sharing network.

BioCatch Trust™ adds an additional layer of behavioural- and device-based protection for customers at the above-named banks against fraud and scams, by assessing in real time the potential risks associated with the accounts to which customers direct their domestic online payments within BioCatch Trust™ Australia. If the network identifies risks associated with a receiving account, BioCatch provides this intelligence to the sending bank in real time, allowing the sending institution to review the transaction before any money leaves the sender’s account.

“Fraud and scam payments are nearly always transferred to mule accounts through which the criminal funnels their profits before withdrawing them,” BioCatch CEO Gadi Mazor said. “When the sending and receiving banks involved in these transactions share intelligence to identify potential money mules, it should reduce the number of customers who fall victim to scams and make a substantial dent in the ability of criminals to move their illegally attained money. We know the criminals behind these attacks swap tactics, strategies, intelligence, and technology with other rival cybercriminals. We’re proud to now offer Australian banks an opportunity to join their own intelligence-sharing network to fight back.”

BioCatch Trust™ combines behavioral intelligence with digital session, payment, account, device, and non-monetary event intelligence to assess the potential risks of receiving accounts on the network before an eligible payment is processed. This helps financial institutions prevent those types of scams where the fraudster manipulates the victim outside of a digital banking session (many scams originate via an email, text message, or social media post). BioCatch Trust™ accomplishes this while utilising proven pseudonymisation technology to help protect the identities of those customers within the BioCatch Trust™ network.

The strength of the BioCatch Trust™ network improves with each new financial institution that joins. As more banks contribute account intelligence, the system grows smarter and more effective, offering deeper insights and broader coverage. This collective intelligence helps to protect against existing, unknown, and emerging threats, significantly enhancing fraud detection across the Australian banking ecosystem.

BioCatch Trust™ complements existing networks that share information after a scam has taken place, assisting the sending bank to make real-time risk assessments of receiving accounts before the sender transfers away any money.

Commentary from participating banks:

“Scams are a widespread issue and a scourge on our community,” ANZ Head of Customer Protection Shaq Johnson said. “At ANZ, and across the banking sector, we must continue to invest in prevention and detection measures to help keep our customers safe from cybercriminals. BioCatch Trust™ is another capability we can adopt to help us in the continued fight against scams and fraud. We’re pleased to be part of the pilot and look forward to seeing how we can leverage the risk indicators and insights this tool offers to complement our existing anti-scam capabilities.”

“There’s always more we can do to protect Australians from scammers, and joining BioCatch Trust™ builds on the anti-scam innovations that CBA has already implemented to better protect Australians,” CBA Head of Group Fraud James Roberts said. “BioCatch Trust™ is the first time banks have been able to share information in real time before a payment is made. In a world-first, this will help protect Australians from losing money to scammers. CBA welcomes the continued sharing of anti-scam intelligence – both with other banks and also across broader industry, including social media companies and telcos through the anti-scam intelligence loop.”

“Scams are the plague of our times,” NAB General Manager of Group Investigations Chris Sheehan said. “We must take action to make Australia a tougher place for criminals to be successful. This is a global first and a great example of how Australia is embracing innovation and strategic partnerships to stop criminals in their tracks. We look forward to seeing this technology in action to help us protect customers and detect scams at scale, in real time.”

“Suncorp Bank is proud to be part of this innovative collaboration, which highlights the investment being made to protect banking customers from scammers,” Suncorp Bank Executive Manager of Financial Crime Operations and Strategy Paul Gardner said. “All financial institutions have a critical role to play in the fight against scammers, and the work delivered as part of this project is another important step towards further protection for all Australians.”

“Stopping scams is one of our highest priorities,” Westpac Head of Fraud Prevention Ben Young said, “so we’re pleased to add an extra layer of protection for customers. Working closely with other banks and providers in the ecosystem is our best bet for making Australia a harder place for scammers to operate.”

About BioCatch:

BioCatch stands at the forefront of digital fraud detection, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, 34 of the world’s largest 100 banks and 237 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 93 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.

PR contacts:

Mac King
BioCatch senior communications manager
Mac.King@BioCatch.com

Amanda Schultz
ANZ media and public relations manager
Amanda.Schultz@anz.com

CBA Media
media@cba.com.au

Amelia Harris
NAB senior communications advisor
Amelia.Harris@nab.com.au

Emily Arnold
Suncorp Bank
Suncorp senior corporate affairs advisor
Emily.Arnold@suncorpbank.com.au

Brooke Davie
Westpac media
Brooke.Davie@westpac.com.au

Logo – https://mma.prnewswire.com/media/1843699/biocatch_logo_rgb_2x_Logo.jpg

View original content:https://www.prnewswire.com/apac/news-releases/biocatch-partners-with-australian-banks-on-launch-of-fraud-and-scams-intelligence-sharing-network-302310866.html

SOURCE BioCatch

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

DN Solutions to Exhibit at METALEX 2024 in Bangkok

Published

on

By

“Advancing Thailand’s Aerospace and Manufacturing Industries”

BANGKOK, Nov. 20, 2024 /PRNewswire/ — DN Solutions will participate in METALEX 2024, ASEAN’s premier machine tool exhibition, from November 20 to 23 at the Bangkok International Trade & Exhibition Centre (BITEC). At booth BP19, DN Solutions will showcase state-of-the-art machine tools and manufacturing solutions aimed at enhancing the productivity and competitiveness of Thai manufacturers.

Under its “Thailand 4.0″ initiative, Thailand is driving the modernization of traditional industries such as automotive and electronics, while accelerating innovation in key sectors like aerospace, logistics, robotics, the digital economy, biofuels, and healthcare. The country is also pursuing its goal to become the ASEAN hub for aircraft maintenance, repair, and overhaul (MRO), fueling demand for precision manufacturing technologies.

At METALEX 2024, DN Solutions will highlight its flagship products, including the PUMA SMX3100L and the DVF 5000 2nd Generation:

PUMA SMX3100L: This versatile, multi-tasking machine is designed for long aerospace components, offering a maximum machining length of 2,540 mm. By performing all operations in a single setup, it reduces lead times and minimizes errors from multiple setups. It also delivers efficient gear machining without requiring dedicated gear-cutting equipment, saving both space and tooling while maximizing productivity.

DVF 5000 2nd Generation: Engineered as a high-precision 5-axis machining center, the DVF 5000 supports diverse applications ranging from small medical components to medium-sized parts for automotive, aerospace, and semiconductor industries. Its robust bed structure and advanced cooling system ensure long-term accuracy, while integrated automation features like an Auto Workpiece Changer (AWC) and round magazine simplify automation and enhance return on investment.

DN Solutions established a regional subsidiary in Ho Chi Minh City, Vietnam earlier this year to support its Southeast Asian operations. It offers services like product installation, after-sales support, and customized technical assistance to customers in Thailand, Vietnam, Indonesia, Singapore, Malaysia, and the Philippines.

Thailand is a powerhouse in the automotive and aerospace sectors,” said Kim Won-jong, CEO of DN Solutions. “We’re thrilled to connect with our Thai customers at METALEX 2024. Our goal is to be their most reliable partner, helping them maintain strong competitiveness in an ever-evolving global market.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/dn-solutions-to-exhibit-at-metalex-2024-in-bangkok-302311109.html

SOURCE DN Solutions

Continue Reading

Technology

Beijing Review: Toward a Just World

Published

on

By

BEIJING, Nov. 20, 2024 /PRNewswire/ — On November 18 and 19, the 19th Heads of State and Government Summit of the Group of 20 (G20) took place in Rio de Janeiro, Brazil. Chinese President Xi Jinping on November 18 delivered an important speech at Session I of the 19th G20 Summit titled Building a Just World of Common Development.

 

“I pointed out at this forum that prosperity and stability would not be possible in a world where the rich become richer while the poor are made poorer, and countries should make global development more inclusive, beneficial to all, and more resilient,” Xi said during his speech.

“The day the world becomes more just, life will be simpler.” This is the English version of a quote by Oscar Niemeyer, one of the greatest architects in Brazilian history, whose works include the National Congress Palace of Brazil. On July 16, 2014, Xi quoted this line in a keynote speech he addressed to the Brazilian National Congress during his state visit to Brazil.

By quoting this line, Xi called for joint efforts to promote international fairness and justice and build a harmonious world safeguarded by lasting peace and common prosperity.

The pursuit of fairness and justice in international relations has always been a noble cause in human history. Remaining committed to these values has not only been a time-honored tradition but also an unwavering strength of character in China’s diplomacy.

This commitment can be traced back to the 1950s, when China first put forward the Five Principles of Peaceful Coexistence. This vision has widely resonated with the international community and has since served as the basis for China’s participation in international affairs.

Since the new era began in 2012, China has been actively promoting a new type of international relations, one that focuses on building a community with a shared future for humanity. In support of international fairness and justice, China has put forward practical proposals, including the Global Development Initiative, the Global Security Initiative, and the Global Civilizations Initiative.

Since its proposal in 2013, the country’s Belt and Road Initiative, a strategy to boost connectivity along and beyond the ancient Silk Road routes, has been a powerful driver of growth for its participating countries. Other Chinese initiatives, including the Global Development and South-South Cooperation Fund and the China-UN Peace and Development Fund, have covered more than 100 countries and regions across Asia, Africa, Latin America and Oceania, fostering widespread prosperity and collaboration.

As a key member of the Global South, China has been committed to empowering other developing countries by amplifying their voice and influence in global governance. China was the first country to openly support the African Union’s inclusion in the G20.

In our world today, protectionism and unilateralism are on the rise. The divide between the Global North and South continues to widen. In the face of these challenges, the global community must share the responsibility of safeguarding international fairness and justice. By holding the belief that “the day the world becomes more just, life will be simpler,” we will one day advance to an open, inclusive, clean and beautiful world of lasting peace, universal security and shared prosperity.

Just as Xi said at the end of his speech in Rio de Janeiro, “China is ready to take steps together with all parties to build a just world of common development, leave poverty in the past, and turn our vision into reality.”

Tiktok
https://www.tiktok.com/@cachinachic/video/7438277367526591775?is_from_webapp=1&sender_device=pc&web_id=7227134149436605995

X
https://x.com/beijingreview/status/1858172475151897026?s=46&t=yfVMVdMyE2zKAFrYaLoV-g

Facebook
https://www.facebook.com/BJReview/videos/580365361028301/

YouTube
https://youtu.be/G3aXTKSyAwo

Weibo
https://m.weibo.cn/status/5101992299729061?wm=3333_2001&from=10EA393010&sourcetype=weixin&s_trans=1719349955_5101992299729061&s_channel=4&jumpfrom=weibocom

Website
https://www.bjreview.com/Multimedia/Video/Wisdom_Without_Borders/202411/t20241118_800384317.html

View original content to download multimedia:https://www.prnewswire.com/news-releases/beijing-review-toward-a-just-world-302311110.html

SOURCE Beijing Review

Continue Reading

Technology

CELLCOM ISRAEL LTD. Announcement of An Annual and Special General Meeting of The Shareholders of The Company

Published

on

By

NETANYA, Israel, Nov. 20, 2024 /PRNewswire/ — Cellcom Israel Ltd. (TASE: CEL) (the “Company”) announces that the Meeting will convene on Thursday, December 26, 2024, at 15:00 p.m. (Israel time), at the offices of the Company, 10 Ha’gavish Street, Netanya, Israel. An adjourned Meeting, if required, will be held on Thursday, January 2, 2025, at the same time and at the same place. The record date for the Meeting is November 27, 2024.

The Agenda of the Meeting

Discussion on of the Company’s audited annual financial statements and Board of Directors Report for the year ended December 31, 2023;Reappointment of Kost Forer Gabbay & Kasierer (EY) as the Company’s independent auditors and report of their fees for 2023;Reappointment of Yuval Cohen (Chairman), Samy Backlash, Shmuel Barashi, Uri Zahavi, Chanan Gal Ezer and Richard Hunter as directors of the Company;Appointment of Ran Bukshpan as independent director of the Company;Approval and Ratification of the resolution to grant indemnity and exemption letters to office holders of the Company (including directors) in office and/or that will hold office from time to time, which are controlling shareholders of the Company and/or that the controlling shareholder of the Company me be viewed as having a personal interest in such grant, including the directors Yuval Cohen, Shmuel Barashi, Uri Zahavi, Chanan Gal Ezer and Richard Hunter, commencing on May 13, 2024.

Voting Instructions

The summon statement and the voting card published by the Company on November 20, 2024 regarding the convening of the Meeting (the “Meeting’s Documents”) may be viewed on the Magna distribution website at: www.magna.isa.gov.il and on the Tel-Aviv Stock Exchange Ltd. website at: www.maya.tase.co.il.

Section 3.10 of the summon statement contains voting instructions for shareholders whose shares are not held via a member of the TASE Clearinghouse (for trading on the Tel Aviv Stock Exchange) but instead via a member of the Depositary Trust Company (DTC) or Shareholders who are registered directly with the Company’s U.S. transfer agent, American Stock Transfer & Trust Company.

An Unregistered Shareholder is entitled to vote through the Electronic Voting System. Voting through an Electronic voting card shall be possible until six (6) hours before the assembly time of the General Meeting. In addition, an Unregistered Shareholder shall be entitled to deliver the certificate of ownership through the Electronic Voting System

A shareholder is also entitled to vote at the General Meeting through a voting card. Voting in writing shall be made by way of the second part of the voting card, which is attached to the Report.

The voting card and documents that must be attached thereto as set forth in the voting card, must be delivered to the Company’s offices (including by registered mail) including the certificate of ownership (and with respect to a registered shareholder – including a photocopy of an identity card, passport, or certificate of incorporation, as applicable) until four (4) hours before the assembly time of the General Meeting. For this purpose, “time of delivery” is the time on which the voting card and the documents attached thereto arrived at the Company’s offices.

Company Contact

Gadi Attias
Chief Financial Officer
investors@cellcom.co.il
Tel: +972-52-998-4774

Investor Relations Contact

Elad Levy
Investor Relations Manager
investors@cellcom.co.il
Tel: +972-52-998-4774

 

View original content:https://www.prnewswire.com/news-releases/cellcom-israel-ltd-announcement-of-an-annual-and-special-general-meeting-of-the-shareholders-of-the-company-302311118.html

SOURCE Cellcom Israel Ltd.

Continue Reading

Trending