The News Journal

Apple said it stopped fraudulent transactions worth about $1.5 billion on its App Store in 2021, as it continues to rein in potential illicit activity on its platform. More than 1.6 million apps deemed risky and untrustworthy were prevented from defrauding users and more than 3.3 million stolen credit cards were blocked from making purchases last year, the iPhone-maker said in its annual fraud analysis on Wednesday. Apple attributed the detection and prevention of malicious apps to its App Review programme, a multilayered approach that combines computer automation with manual human review, which is the “distinguishing component” of the process. “Bad actors continue to evolve their methods of online fraud, often making their schemes harder to recognise,” the iPhone-maker said in the report released before its Worldwide Developers Conference next week. Read More : https://www.thenationalnews.com/business/technology/2022/06/02/apple-wwdc-2022-fraudulent-transactions-worth-15bn-blocked-on...

 Fasset, a platform that enables cryptocurrency trading, raised $22 million in a Series A funding round that it will use to develop new products and expand its digital asset-driven remittance services in Asia. The new investment in the London company, which offers zero per cent trading fees, was led by New York-based Liberty City Ventures and Pakistan's Fatima Gobi Ventures. Soma Capital and MyAsiaVC also participated in the round, it said in a statement on Friday. The funding comes a day after the financial technology company said it had received authorisation to expand its operations in the EU, which will allow it to connect the remittance corridors of the global diaspora to their home markets. Fasset is focused on promoting "financial inclusion and democratising access to opportunity by enabling a new wave of digital asset owners in our target emerging markets", said Mohammad Raafi Hossain, co-founder and chief executive of Fasset. "Asset ownership is the stronges...

 Emirates Integrated Telecommunications Company, known as du, is planning to offer a bug bounty as a service to its customers following the success of its trial programme. A bug bounty is a reward given to ethical hackers who are able to discover and report a vulnerability – a bug – in a computer app or software, enabling solutions to be programmed before the bug becomes widespread. The pilot phase of du's bug bounty programme, which was completed in two months and included the participation of several “elite security people”, allowed the telecom company to explore vulnerabilities before the services go to market, said Jasim Al Awadi, head of government and key accounts at du. “We have concluded our bug bounty programme and the results are phenomenal. Very soon we will start implementing it in our network. We will have an on-premises server, then we will offer it as a service to our customers,” Mr Al Awadi told The National in an interview at the Global Information Security Expo a...