Singapore cuts key exports forecast for 2024 amid weaker-than-expected recovery
SINGAPORE: Singapore on Friday ( Nov 22 )  , cut its , non-oil domestic exports ( NODX )  , growth forecast for 2024 amid a weaker-than-expected recovery. NODX in 2024 is then expected to grow by about 1 per cent year-on-year, over from the forecast in August of a 4 toContinue Reading
Indian tycoon Adani’s US indictment spooks investors; bonds fall again
In order to conceal corruption from shareholders and creditors, Gautam Adani, his brother Nagar Adani, and past Adani Green Energy CEO Vneet Jaain, according to prosecutors, raised more than US$ 3 billion in loans and bonds. Adani Group stated on Thursday that it would request” all possible legal recourse” againstContinue Reading
Australian teenager 6th person to die from suspected methanol poisoning in Laos
A second young Australian tourist passed away on Friday ( Nov 22 ), bringing the total to six in a Laos backpacker hotspot as a result of a suspected case of methanol poisoning.
Following what the media described as a night out in the adventure town of Vang Vieng, two Norwegian citizens, an American, and two Brits have even passed away.
According to American and Asian media, the party of about a hundred tourists left on November 12 and became ill.
Holly Bowles ‘ tragic departure may be heartbreaking to all Australians, according to American foreign minister Penny Wong in a statement.
” Only yesterday, Holly lost her best friend, Bianca Jones”.
The foreign minister continued,” I know that all Australians may be holding both people in our hearts tomorrow.”
The grieving relatives of Jones said in a speech to Australia’s Herald Sun newspaper that they are comforted by the understanding that her extraordinary spirit had a lasting impact on so many life while she was a member of us.
” Our family has been really humbling during this unfathomable time,” said one of the humbling acts.
Officials from Australia are now pressing Thai authorities to launch a thorough and impartial investigation into the incident.
Employees at Bowles ‘ alleged hospital in Bangkok were unable to confirm her presence, according to the company’s statement.
AFP has contacted Australia’s ambassador in Bangkok for opinion.
British woman dies in suspected methanol poisoning in Laos, taking death toll to five
The second unusual national in the event to be thought to have died in the incident in Laos is a British lady who fell ill after drinking contaminated alcohol.
British media reported on Thursday ( Nov 21 ) that 28-year-old Simone White, a lawyer from southeast London, was among the tourists who died after consuming drinks laced with methanol, a toxic alcohol.
” We are supporting the family of a British person who has died in Laos, and we are in contact with the local specialists”, Britain’s foreign department said in a statement.
Four different tourists- an American, two Danes and an National- have died in the event in Vang Vieng, a town in the Southeast Asian nation common with international backpackers.
According to Australian Prime Minister Anthony Albanese, a pal of one of her friends has been confirmed useless.
According to officials, two Swedish nationals and one American died after what the media claimed was a day out in Vang Vieng, where they reportedly drank allegedly contaminated alcohol.
According to American and Asian media, the party of about a few tourists left on November 12 and became ill.
” Tragically, Bianca Jones has lost her life”, Australia’s Albanese told parliament. Her family and friends are grieving a sad and cruel damage, her family and friends say.
Jones ‘ friend Holly Bowles, even 19, is in critical issue in hospital, Albanese said.
She was on “life help” in a hospital in Bangkok, her parents Shaun Bowles told Australia’s Nine News on Wednesday.
Without providing more details, Denmark’s foreign ministry announced on Thursday that two Swedish nationals had died in Laos.
If TikTok threatens national security why can Canadians keep it? – Asia Times
Last week, news of the American government’s abrupt decision to halt TikTok’s business in Canada sank.
Navigating internet policy in search of relevant information has since become a wild goose chase. Behind the state of enigmatic “national security risks” is a distinct lack of clarity.
François-Philippe Champagne, the leader of the economy, is well known for his efforts to cut back on China’s ties to the North American economy. He responded to requests for information on how Canadians may view the choice when asked by the media for clarification.
Even as American legislators pressed the company to publish its data access and control practices, TikTok pre-emptively established a Transparency and Accountability Center in 2023 to provide authorities with a behind-the-scenes look at their techniques and content tolerance practices.
TikTok accountability work
I was an expert in financial security when Canada banned TikTok on government devices next year, and I was curious as to why any workstations had entry to distracting cultural media applications in the first place.
Additionally, TikTok has provided clarity through Project Texas, a system that relocates information to American servers and conducts third-party assessments. Canada, however, has not engaged in or acknowledged for accountability efforts, perhaps bypassing a co-operative answer in favour of more severe restrictions.
I’ve always used TikTok, and I’ve never been one, and I’m just as interested in the program as I am in the well-known Twitter outfit, which has a lot of content management issues. Beyond willing moderation, the American government’s managing of TikTok raises important issues, including possible individual rights implications, from where I am.
Citizens are basically told they can use the app but at their own risk because they claim that national security risks are so severe that they ca n’t even be shared with the public without providing any discernible evidence.
For a blatant charm to fear, uncertainty, and fear appears to have been purposefully engineered to cause cognitive dissonance. It not only reinforces an autocratic approach but more importantly erodes one’s knowledge of surveillance, risk and protection.
Secrecy: Surveillance by darkness
Canada has avoided disclosing details about the alleged threats by opting for a mysterious federal safety review. Such steps set a dangerous precedent, promoting a “guilty until proven innocent” thinking. This impenetrable approach could also have a cold impact, stifling foreign investment in Canada, particularly in the electronic sector.
Questions are raised about the decision’s actual intentions by the secrecy surrounding it. It suggests that people might prefer to keep secrets about information that is of common curiosity rather than to share it with others.
Although it remains to be seen whether this was intended to inform other Chinese companies in Canada, these companies now operate in the wholesale, e-commerce, banking, energy, and resources industries, which are likely strongly watching the developments. Given that five different China-linked businesses have been unceremoniously shut down in Canada over the past two decades, that is especially true.
In order to conduct business in China, it seems more likely than not that American businesses operating in the Eastern nation, such as Magna, Bombardier, Saputo, and the Bank of Montreal, may soon encounter some retaliatory winds.
Setting a difficult law
If Canada is censoring a platform mainly because it owns it, it could be setting new standards for online freedom. In the name of safety, these actions could lead to the enactment of restrictions on platforms and services around the world, as well as stifling freedom of expression and access to information.
I recently argued that Zoom and its mysterious development and IP-access techniques during the Covid-19 pandemic posed a certain risk to children and students ‘ privacy and confidentiality.
In the name of safety and security, China’s understanding of privacy is fundamentally unique: Any organizations that collect data may offer unrestricted access to it in order for the government to inspect it. The Ministry of Public Security is required to have complete clarity and access to data in China under Article 77 of its Cybersecurity Law. Period”.
Because TikTok will no longer be around in our country, it will likely be hard for Canadians to obtain information about the company’s safety procedures, inquire about online restraint, and launch Protection Commissioner examinations once its practices are shut down and hundreds of employees are laid off.
Impact on government credibility
I certainly do n’t expect to have access to privileged information. But the secretive nature of Canada’s expulsion of TikTok ( or is it truly aimed at its parent company, ByteDance? ) risks undermining public confidence in government decisions at a time when it could be a fantastic opportunity to raise Canadians ‘ awareness of real security concerns.
If the general public views this action as an excessive, disrespectful overreach conducted under the guise of security, it may raise questions about corporate law enforcement practices and foreign policy decisions.
In the end, the manufactured dichotomy between a government agency’s inability to conduct upcoming privacy investigations on behalf of Canadians and a heavy-handed approach to urgent corporate expulsion seems both deliberate and calculated.
Although TikTok has, at least by all measures publicly available, demonstrated a level of transparency comparable to that of its peers in the same way that it is true of all social media companies when it comes to collecting and processing user data, it is also true that they do so.
At the University of Toronto, author and lecturer on information risk, enterprise privacy management, and fintech cybersecurity, Claudiu Popa.
The Conversation has republished this article under a Creative Commons license. Read the original article.
Taiwan needs to get ready for Trump 2.0 – Asia Times
The Japanese and Taiwanese have a common trait. Both countries have a deep sense of doubt about how effective American defense is. That problem is ringing out over as loudly as ever since , Donald Trump , won the November US national vote. But, in , Taiwan’s case, it’s perhaps a more pragmatic issue.  ,
Donald Trump’s campaign statement of support for Taiwan was not made clear during a Chinese friend’s opinion. Then he asked a handful of concerns about Taiwan’s future hopes under the new administration.
Q: What does Trump’s Taiwan scheme seem like during his second name? If Taiwan worry?
A: Taiwan was not an issue in the US vote plan. It never is ― for any member. Very few, if any, citizens base their choice of political candidate on their views of Taiwan.
Therefore, it should n’t be much of a problem that Trump did n’t provide a thorough explanation of his Taiwan policy during his campaign for president and even suggested Taiwan was n’t doing enough.
More importantly, ponder how Trump and his administration handled Taiwan during his first word from 2017-2021. While Trump was president, arms sales to Taiwan expanded considerably over the , Obama government’s “weak” on China / “weak” on Taiwan functionality.  ,
Furthermore, Taiwan’s isolation eased as the United States paid more attention to it. Also, senior US officials ( serving and former ones ) visited Taiwan. And, most importantly, Trump’s administration was the first one ever ― since Nixon opened up to China ― that stood up to the , People’s Republic of China , ( PRC ) and for the free world’s interests.  ,
The , Chinese Communist Party , (CCP ) hated the Trump administration and his advisors handling , China policy , in particular: Mike Pompeo, Matt Pottinger, David Stilwell, Miles Yu, et al. That provides all the information you require.
But remember, always look at what Mr Trump does … hardly what he says.
How did Taiwan security issues be handled by the new case members?
The two case users most involved in Taiwan things are Senator , Marco Rubio , and Congressman , Mike Waltz. They are referred to as national security advisor and secretary of state, both. Both have strong ties to the Chinese Communists and have powerful legislative histories aimed at halting and reversing PRC misconduct.
Both of them also know Taiwan’s value to the free earth. If Taiwan is willing to defend itself, they may exert great efforts to do so.
During Trump’s battle, he demanded that Taiwan pay security costs, which aroused heated debate. If we fear?
This was a devised discussion. Trump clearly observed that , Taiwan does not spend roughly enough , on its own defence. In truth, it has not done so for the last 30 years.  ,
The President-elect is aware that Taiwan does not make every effort to protect itself while the majority of the US population will not tolerate ordering Americans to death there. That is current British politics ‘ reality.
Taipei also needs to comprehend this.
And most Americans, particularly those whose kids are US military personnel, agree with this statement. It applies not only to Taiwan but to the Western countries, Japan, Australia, and Canada, while also.  ,
What actions should Taiwan take in response to stress to improve its security resources?
Above all, acknowledge Taiwan’s desire to improve its overall defence is reflected in the pressure it is feeling over security spending. Not just to increase spending on defence, but also to increase it.  ,
Then do the second:
- Prepare Taiwan’s citizens for a potential conflict. Visitors to Taiwan are frequently struck by Taiwan’s population’s disregard for the threat posed by the local PRC and their openly indifference.
- Highly increase , protection investing.
- Rearrange the Taiwan war and its operating principles to make the People’s Liberation Army of China’s challenge more difficult. In order to accomplish this, some senior officials will likely need to retire, while younger, less hide-bound officers will have the opportunity to reform Taiwan’s defense and its tactics.
- Fix Taiwan’s utterly dysfunctional defense supply system. It is far less successful than it should and could be.
- Create a genuine civil protection plan that engages Taiwan’s civil population in national defense operations.
- Counter Chinese , social warfare , and violently targeted the PRC’s second column in Taiwan. Furthermore, do a serious counter-intelligence efforts against persons spying for the PRC in Taiwan. There are apparently many of them.
- Invest strongly in long-range precision weapons, bright sea mines, offensive , computer skills and hardening Taiwan’s communications systems. This will help to strengthen Taiwan’s chances of surviving a Taiwanese abuse.
- End the fatal proceed towards “renewable” power in Taiwan― and mass up Taiwan’s energy infrastructure. Those include companies of conventional electricity.
- Make every effort to admonish Taiwan’s resolve to support itself and that it is capable of doing so.  ,
If you do all of this, or the majority of it, Americans will probably have much higher support.
Trump is viewed as separatist and has the potential to undermine America’s stabilizing role in world affairs. May we fear?  ,
No.
Trump ( and his supporters ) are often called “isolationists” but what is the evidence? Look at Trump’s first four years ( 2017-2021 ).
US withdrawn from the earth, or not? No.  ,
Which continuous forward-deployed US troops in the Asia/Pacific or Europe were brought home? Nothing.
Which empire ended with an alliance? Nothing.
One does not want to be an isolationist if one wants to be wary of engaging in foreign war or of sending young Americans to death.  ,
In the same way, one does n’t become an isolationist if they insist that our allies and friends spend more of their own money and make sacrifices for their own young people.
If something, it’s common feeling.
The US cannot and should not be the nation’s officer, particularly on behalf of colleagues who’ve taken the Americans and their safety for granted. And yes, I’m referring to the Europeans, the Australians and Japan, among people.
Moreover, defending the US market from unfair trade practices by other countries is not internationalist.
It was believed for years that the US could bear any losses brought on by trade practices that were favoured by other countries ( including our friends ). It is not separatist to now wish to re-establish American manufacturing. Too much of it was moved elsewhere by America’s dozens group in the last 40 times. The carnage inflicted on America’s working class ( “deplorables”, “garbage” and “lower orders”, if you ask some American elites ) has been as damaging as an actual war.
This term “isolationist” is just another attack that’s thrown at Trump without any consideration given to exact proof. Some of those who use the nicknames have children who are military personnel. They are not at all affected by the negative effects of unfair business practices in other countries or the establishment of their own territories for the past four years.  ,
Any final suggestions for Taiwan?
Do everything you can to show Taiwan’s ferocity for its flexibility, and then add more. The PRC may wait as a result. And more importantly, it may make the US and the country’s free countries more ready to defend Taiwan. Because of this, so many people are supporting Ukraine. It fought tenaciously for its own safety. Taiwan needs to prepare right away.
God helps those who help themselves.  ,
So does the United States.
RELATED:
Review: ‘ When China Attacks’ and the United States goes down to battle
Taiwan: A yummy goal, chips or no cards
China’s military wo n’t talk to the US – So what?
Offer Taiwan’s youth a fighting chance against China
Former US minister and previous US Marine official Grant Newsham. He is the author of the book <a href="https://www.amazon.com/When-China-Attacks-Warning-America/dp/1684513650″ target=”_blank” rel=”noreferrer noopener”>When China Attacks: A Warning To America.
JAPAN Forward was the first to publish this content. It is republished with authority.
Singapore upgrades 2024 economic growth forecast to around 3.5%
SINGAPORE: Singapore on Friday ( Nov 22 ) upgraded its economic growth forecast for 2024 to around 3.5 per cent, above the range of its previous prediction.
In August, the , Ministry of Trade and Industry ( MTI ) narrowed the gross domestic product ( GDP ) growth forecast to 2 per cent to 3 per cent.
MTI upgraded the projection after taking into account the “better-than-expected performance” of the Singapore economy in the first three rooms of the year, as well as the latest international and local conditions.  ,
GDP growth for the first three quarters of the year was 3.8 % higher than that of the previous month.
Next time, the government is expecting Singapore’s GDP growth to occur in between 1 per share and 3 per share.
MTI even revised the third-quarter GDP numbers to 5.4 per cent, away from the , advanced estimates , of 4.1 per share.
This is also higher than , the 3 per cent rise recorded in the second quarter, which was also revised forward from 2.9 per share.
On a quarter-on-quarter seasonally adjusted base, Singapore’s market grew by 3.2 per share, accelerating from the 0.5 per cent rise in the previous quarter.
2024: A Global Economic Outlook
On balance, Singapore’s total additional demand perspective is expected to remain adaptable for the rest of 2024, said the government.
These should help rise in Singapore’s production sector as well as outward-focused services sectors like the retail trade sector, according to MTI, in conjunction with the continuous recovery in global electronics demand.
On the other hand, the outlook for tourism-related and consumer-facing areas such as the hotel, wholesale trade and meal &, drink services sectors has weakened given the slower-than-expected treatment in international visitor arrivals and weak holiday spending.
Q3 DRIVERS GROWTH Vehicles
Manufacturing, retail trade and financing and insurance boosted GDP growth in the fourth quarter, MTI said. These industries were bolstered in part by the global technology sector’s recovery.
In particular, manufacturing saw an increase of 11 % in the third quarter of last year. In the second quarter of this year, it decreased by 1 %.
The sector’s various clusters increased, but the technology field experienced strong growth, led by the demand for smartphones and PC semiconductor chips.
On a quarter-on-quarter seasonally adjusted basis, the business grew 13.5 per share, a turnaround from the 1.1 per cent downturn in the second quarter.
Deep Dive Podcast: Does the vet industry need greater oversight?
If you’re very sick and you do n’t have money, definitely you will be able to get treatment somewhere- it is illegal not to give you any treatment, right? And if you can pay for it, you can go for ( more expensive ) treatment.  ,
Steven Chia, network:  ,
But people will argue with you and say,” These are people versus animals, they are not the same” . ,
Angeline:
As a society, we have to decide, do we treat ( animals ) like family or commodity?  ,
Crispina Robert, network:  ,
Recalling the rising prices, we learned that centres were being repurchased by private equity firms. Thus, Mars, a chocolate manufacturer, owns Mount Pleasant Hospital and the Animal Incident and Specialty Hospital. If the large kids are in the photo, they are going to prioritise income, right? Would that be a concern?  ,
Steven:
But they could also reduce costs (using scale )?  ,
Diana Chee, chairman at AVS:  ,
Let me leap in these. I believe that most clinics offer a special rate to those who attend shelters or ( community ) cat feeders.  ,
So those who are rescuing wildlife would likely receive a specialized rate from unique clinics.  ,
Russia gives North Korea a million barrels of oil, report finds
BBCAccording to satellite imagery study from the UK-based Open Resource Centre, a non-profit research organization, Russia is thought to have supplied North Korea with more than a million barrels of oil since March this year.
Leading authorities and UK Foreign Secretary, David Lammy, have told the BBC that the fuel is pay for the arms and personnel China has sent Moscow to bolster its conflict in Ukraine.
In an effort to suppress North Korea’s business and stop it from developing nuclear weapons, these exchanges violate UN sanctions, which prohibit countries from selling oil to the country in small amounts.
More than a hundred different North Vietnamese oil tankers have departed from an oil terminal in Russia’s Far East in full 43 days in the last eight months, according to the satellite images, which were exclusive to the BBC.
More photographs, taken of the ships at sea, appear to show the containers arriving bare, and leaving nearly complete.
North Korea is the only country in the world not allowed to buy oil on the open market. The number of barrels of refined petroleum it can receive is capped by the United Nations at 500,000 annually, well below the amount it needs.
Russia’s foreign government did not respond to our request for comment.
Seven months after it was first revealed that Pyongyang was sending Moscow arms, the Open Source Centre documented the second oil move in a new record on March 7, 2024.
The shipments have continued as thousands of North Korean troops are reported to have been sent to Russia to fight, with the last one recorded on 5 November.
According to Joe Byrne from the Open Source Center,” Russia is silently providing North Korea with a backbone of its own,” while Kim Jong Un is giving Vladimir Putin a lifeline to keep his battle.
” North Korea enjoys a degree of stability that it has n’t had since these sanctions were put in place,” says the statement.
Four former UN panel people who were in charge of monitoring the sanctions against North Korea have confirmed to the BBC that Moscow and Pyongyang’s relationships are growing.
” These payments are fuelling Putin’s combat equipment – this is fuel for weapons, fuel for artillery and then oil for men”, says Hugh Griffiths, who led the board from 2014 to 2019.
Russia has become extremely dependent on North Korea for troops and weapons in exchange for oil, according to UK Foreign Secretary David Lammy in a speech to the BBC.
He added that this was “having a strong impact on security in the Asian coast, Europe and Indo-Pacific”.
Easy and affordable crude offer
While most people in North Korea rely on fuel for their everyday lives, oil is necessary for running the region’s defense. To manage munitions factories, fuel Pyongyang’s elite’s cars, and transport missile launchers and troops all over the nation, using diesel and gasoline.
The 500,000 barrels North Korea is allowed to receive fall far short of the nine million it consumes – meaning that since the cap was introduced in 2017, the country has been forced to buy oil illicitly from criminal networks to make up this deficit.
This involves transferring the crude between ships out at sea – a dangerous, expensive and time-consuming company, according to Dr Get Myong-hyun, a senior research fellow at South Korea’s Institute for National Security Strategy, which is linked to the government’s detective agency.
” Then Kim Jong Un is getting oil immediately, it’s good better value, and chances are he’s getting it for free, as quid pro quo for supplying weapons. What could possibly be superior to that”?
A million barrels is not something a large oil producer like Russia should release, but it is a sizable sum for North Korea, Dr. Go goes on to say.
Tracking the’ silent’ transfers
The North Korean-flagged tankers arrived at Russia’s Vostochny Port with their trackers off, concealing their movements, in all 43 of the journeys the Open Source Centre has tracked using satellite images.
They then made their way back to one of the four ports on the east and west coast of North Korea, according to the images.
” The vessels appear silently, almost every week”, says Joe Byrne, the researcher from the Open Source Centre. ” Since March there’s been a fairly constant flow”.
The team used their knowledge of each ship’s capacity to figure out how many oil barrels they could carry, which has been tracking these tankers since the oil sanctions were first implemented.
Then they studied images of the ships entering and leaving Vostochny and, in most instances, could see how low they sat in the water and, therefore, how full they were.
The tankers, they assess, were loaded to 90 % of their capacity.
According to Mr. Byrne,” we can see from some of the images that if the ships were any fuller they would sink.”
Based on this, they calculate that, since March, Russia has given North Korea more than a million barrels of oil – more than double the annual cap, and around ten times the amount Moscow officially gave Pyongyang in 2023.
This follows an assessment by the US government in May that Moscow had already supplied more than 500,000 barrels’ worth of oil.
Because of cloud cover, researchers are unable to consistently capture a clear image of the port.
” The whole of August was cloudy, so we were n’t able to document a single trip”, Mr Byrne says, leading his team to believe that one million barrels is a “baseline” figure.
A’ new level of contempt’ for sanctions
More than half of the journeys tracked by the Open Source Centre were made by vessels that have been specifically sanctioned by the UN, which is in addition to the UN sanctions against North Korea that Russia, as a permanent member of the Security Council, signed off on.
They therefore ought to have been searched for before entering Russian waters.
But in March 2024, three weeks after the first oil transfer was documented, Russia disbanded the UN panel responsible for monitoring sanctions violations, by using its veto at the UN Security Council.
Ashley Hess, who was working on the panel up until its collapse, says they saw evidence the transfers had started.
” We were tracking some of the ships and companies involved, but our work was stopped, possibly after they had already breached the 500, 000-barrel cap”.
Eric Penton-Voak, who led the group from 2021-2023, says the Russian members on the panel tried to censor its work.
” Now the panel is gone, they can simply ignore the rules”, he adds. A new level of contempt for these sanctions is demonstrated by Russia’s recent encouragement of these ships to travel to its ports and load up with oil.
But Mr Penton-Voak, who is on the board of the Open Source Centre, thinks the problem runs much deeper.
These autocratic regimes are now increasingly collaborating to achieve what they want while disregarding the wishes of the international community.
This is an “increasingly dangerous” playbook, he argues.
” A North Korean tactical nuclear weapon, for instance, is something you do n’t want,” says one author.
Oil the tip of the iceberg?
Concerns are growing over what else Kim Jong Un will receive as Vladimir Putin’s war grows in importance.
The US and South Korea estimate Pyongyang has now sent Moscow 16,000 shipping containers filled with artillery shells and rockets, while remnants of exploded North Korean ballistic missiles have been recovered on the battlefield in Ukraine.
Getty ImagesIn addition, a recent defense pact between Putin and Kim was signed, which led to the sending of thousands of North Korean troops to the Russian Kursk region, where intelligence reports indicate they are now at war.
The South Korean government has promised to” sternly respond to the Russian and North Korean regime’s violations of the UN Security Council resolutions.”
The Russian-operated spy satellites and ballistic missiles program’s biggest concern is that Moscow will provide Pyongyang with the latest technology.
Last month, Seoul’s defence minister, Kim Yong-hyun, stated there was a “high chance” North Korea was asking for such help.
A million barrels of oil is simply not enough money, according to Dr. Go, “if you’re sending your people to die in a foreign war.”
Andrei Lankov, an expert in North Korea-Russia relations at Seoul’s Kookmin University, agrees.
” I used to think it was not in Russia’s interest to share military technology, but perhaps its calculus has changed. The Russians need these troops, and this gives the North Koreans more leverage”.
Josh Cheetham provided additional reporting in London.
Singapore registers Asia-Pacific’s biggest spike in identity fraud, driven by deepfake surge
SINGAPORE: Singapore registered the highest year-on-year increase in identity scam among countries in the Asia-Pacific region , in 2024, according to a study.
According to the most recent Identity Fraud Report from verification and monitoring platform Sumsub, which was released on Tuesday ( Nov 19 ), the number of these cases increased by 207 percent from 2023.
This was considerably higher than the region’s overall boost of 121 percent.
Thailand and Indonesia followed closely behind with boosts of 206 per share and 201 per cent respectively.
Among the top five identification fraud varieties globally are the use of false documents such as fake IDs and passports,” chargebacks” where customers dispute genuine transactions to get refunds, scam networks where organised groups use many accounts for criminal activities, accounts takeovers, and deepfakes.
The document was based on data from over 3 million scams efforts across different sectors, said Sumsub.
It also conducted a study in August this year of over 200 scams and danger experts, more than 1, 000 end-users in areas like banking, bitcoin, obligations and e-commerce, and consumers from 18 countries.
GLOBAL RISE IN DEEPFAKES
Sumsub’s review found a four-fold increase in the number of deepfakes worldwide, accounting for seven per cent of all fraud attempts.
Deepfakes refer to controlled photographs, videos or tones used to mimic people.
In Asia-Pacific, Singapore came in shared next with Cambodia for an increase in algorithmic assaults, with a surge of 240 per share.
The highest improve was in South Korea, which was 735 percent.
Deepfakes are a hot topic in the area, with 85 % of respondents worried about their potential influence on elections, according to the document.
In Singapore, the next general election had been held by November next month.