Artificial Intelligence

GASA Extends Global Anti-Scam Summit (Asia) to Singapore on October 21-22

Published

2 hours ago

October 15, 2024

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– Follows the success of the first GASA Asia Summit held in Taipei in 2023 which gathered more than 300 participants from the public and private sectors.- According to the upcoming GASA Asia Scam Report 2024, nearly half of Asians experience scams at least once a month.
SINGAPORE, Oct. 15, 2024 /PRNewswire/ — The Global Anti-Scam Alliance (GASA) has announced the extension of the Global Anti-Scam Summit (Asia) to Singapore on October 21-22. Supported by the Ministry of Home Affairs (MHA), the Singapore Police Force (SPF) and the Ministry of Digital Development and Information, the Summit is the largest gathering of anti-scam stakeholders across sectors. Participants from across Australia, Hong Kong SAR, India, Japan, Malaysia, New Zealand, Singapore, Taiwan Region, Thailand, The Netherlands, the Philippines, United Kingdom, United States and beyond will focus on the theme “The Network to Defeat a Network,” aiming to foster collaboration and develop strategies to protect the public from scams. Participants can look forward to sharing sessions by private stakeholders and experts from GASA, major global companies like Amazon, Gogolook, Google, Mastercard, and Meta, as well as Government officials, law enforcement agencies, financial authorities, and non-profit organisations.

Ms Sun Xueling, Minister of State, Ministry of Home Affairs and Ministry of Social and Family Development, is the Guest-of-Honour for the event, and will be delivering an opening address. GASA Singapore’s Patron, Mr Tan Kiat How, Senior Minister of State, Ministry of Digital Development and Information & Ministry of National Development, will also launch GASA’s industry awards and engage participants in a fireside chat.
According to the upcoming Asia Scam Report 2024, published by GASA, nearly half of Asians experience scams at least once a month. In Singapore, scams continue to be of grave concern, with more than 26,000 reported cases and more than $350 million lost to scams in the first half of 2024 alone. In other parts of the region, Thailand and South Korea reported the largest increase in scams. Scams are a transnational crime affecting all countries, where criminals act across borders. To address this growing threat, it is essential for governments and industries to unite. Accordingly, the Global Anti-Scam Summit – Asia 2024, supported by the Singapore public sector, will collaborate to combat these growing threats in Asia. Participants include members from the Singapore Chapter, Mastercard as Chair, and Amazon as Vice-Chair, with partners including Feedzai, Gogolook, Google, Meta, Nanyang Technological University, ScamAdviser and Trend Micro.
“Scam cases have risen exponentially in recent years, and is a global problem – no country is spared. Fighting scams requires a collective global effort, and we need to work across borders, with international partners, to be able to disrupt scammers’ operations and protect our local population. International collaborations can range from strengthening operational processes between law enforcement agencies to act against scam syndicates and recover scam proceeds, to collectively raising our security measures and safeguards to prevent scams”, said Ms Sun Xueling, Minister of State, Ministry of Home Affairs and Ministry of Social and Family Development. “I am heartened that our friends and counterparts from all around the world will be taking part in this Summit which is being helmed by Singapore for the first time. The networks we build at this Summit and our understanding of each others’ work processes will enhance our collective response against scams.”
“As we build on last year’s successful summit in Taiwan with Gogolook, we are excited to expand this annual Anti-Scam Summit – Asia to Singapore, where we will continue fostering cross-sector partnerships to tackle the global issue of scams,” said GASA Managing Director Jorij Abraham. “We are honored to collaborate with the Singapore government on this summit. Alongside the event, we are also releasing The State of Scams Asia report, offering a comprehensive analysis of the growing threats across Asian countries.”
Rajat Maheshwari, Chair of GASA Chapter Singapore and Vice President, Security Solutions Mastercard said, “Cybercrime continues to grow aggressively around the world, and a unified approach is key to fighting scam and protecting consumers. The formation of the first Asia chapter of GASA in Singapore not only demonstrates the industry’s willingness to collaborate against cyber fraud, but also showcases Singapore’s success in fostering public-private cooperation to tackle one of the biggest challenges of the day.”
Shze Min Yah, Vice Chair of GASA Singapore Chapter and Public Policy Manager at Amazon, said, “Scams are a cross-industry issue, which is why knowledge sharing and partnerships between stakeholders in the public and private sectors are key to protect consumers.”
Over the two days, keynote speakers and interactive panels will share invaluable perspectives on scam prevention, regulatory advancements, and public awareness campaigns. The speakers include representatives from the Singapore Ministry of Home Affairs and the Singapore Police Force, as well as leading tech companies such as Amazon, Gogolook, Google, Mastercard, and Meta. Officials from various law enforcement and government agencies will also attend panel discussions under the topic of Artificial Intelligence, Bank Collaboration, Cybersecurity, Data Sharing, Financial Services, Global Collaboration and Telecom & Communication.
The Global Anti-Scam Summit – Asia will also unveil the latest findings from the Asia Scam Report, aimed at raising public awareness of digital scams and laying the groundwork for future policy development and advocacy in global anti-scam initiatives and AI applications. In addition to the Asia Scam Report, area-specific reports will also be distributed, offering an in-depth exploration of the scam landscape in Japan, Hong Kong SAR, Malaysia, South Korea, Taiwan Region, Thailand and the Philippines.
The event taking place at Suntec Singapore on October 20-21, will offer both in-person and virtual participation. To be part of the Global Anti-Scam Summit – Asia, please visit the official website: https://www.gasa.org/gass-2024-asia
The release is sent by Constellar on behalf of Global Anti Scam Alliance (GASA) Singapore Chapter.
To attend the Summit, please RSVP to [email protected].
About GASA
The Global Anti Scam Alliance’s (GASA) mission is to protect consumers worldwide from scams by raising awareness, enabling hands-on tools, facilitating knowledge sharing, organizing research, and offering training and education.
For more information, please refer to: https://www.gasa.org/
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Artificial Intelligence

Sapiens Decision Launches Solution to Boost Decision Underwriting Efficiency and Profitability for P&C

Published

6 mins ago

October 15, 2024

CISION (PR Newswire)

Sapiens Decision Underwriting Accelerator elevates straight-through processing and reduces reliance on IT by up to 90%
ROCHELLE PARK, N.J., Oct. 15, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the release of Sapiens Decision Underwriting Accelerator, a cutting-edge solution designed to enhance underwriting efficiency and significantly improve straight-through processing (STP) for Property and Casualty (P&C) insurers. This innovative decisioning solution addresses key industry challenges by driving a substantial increase in STP rates, enabling insurers to optimize their underwriting processes and improve overall profitability.

Sapiens Decision Underwriting Accelerator addresses the needs of P&C insurers to streamline their underwriting processes while maintaining speed and accuracy. Sapiens’ new solution offers significant improvement in STP for high-volume underwriting cases, both for renewals and new policies. By automating complex decision-making tasks and integrating seamlessly with AI and machine learning models, the solution ensures comprehensive risk assessment, accelerating time-to-market and improving cycle times.
Sapiens Underwriting Accelerator empowers business analysts – without the need for coding expertise – to independently author, update, and test decision logic in real-time. This reduces reliance on IT resources by up to 90%, enabling quicker adjustments and optimizing operational efficiency. The solution also provides contextual, plain-language messages that eliminate the need for users to decipher cryptic codes, significantly improving the customer and agent experience.
Underwriting Accelerator also features pre-built decision flows, designed to handle the complexity of state, line of business, and company often found in regional and national carriers. These pre-configured models allow for faster deployment, reducing implementation time and costs for insurers. The solution also extracts decision logic from legacy systems to make embedded logic easy to access, update, and share, enabling insurers to avoid costly infrastructure overhauls while improving their existing underwriting processes.
“Sapiens’ new release empowers the industry to achieve the highest levels of straight-through processing and underwriting efficiency, significantly improving profitability,” said Ilan Buganim, Chief Technology and Information Officer at Sapiens. “Sapiens Decision Underwriting Accelerator leverages no-code tools, pre-configured decision models, and a high-performance engine to enable insurers to make substantial improvements in their combined ratio within a matter of months. Looking ahead, Sapiens plans to expand its decisioning solutions with pre-packaged offerings for the mortgage industry, addressing similar underwriting challenges.”
Sapiens Decision provides end-to-end decision management capabilities from decision logic extraction from legacy code to decision modeling with no code tools, and deployment through Decision-as-a-Service. Sapiens Decision offers a technology-independent solution to fit any architecture, allowing organizations to reuse their existing infrastructure and governance models.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. We help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers’ compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative SaaS offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success.
For more information visit https://sapiens.com or follow us on LinkedIn.
Investor and Media Contact Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected]
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic, and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
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Artificial Intelligence

New research reveals hidden cybercrime mental health crisis

Published

6 mins ago

October 15, 2024

CISION (PR Newswire)

British victims of cybercrime report fear, anxiety and shame lasting months, and call for more support, according to research from Akamai
LONDON, Oct. 15, 2024 /PRNewswire/ — Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced new research exposing the hidden mental health impact of cybercrime on the UK public, and has partnered with psychologist Dr Quinn-Cirillo to publish guidance on how to promote more supportive conversations with victims of cybercrime.

A survey of 1,002 Britons who have been a victim of cybercrime in the past year, commissioned by Akamai, reveals most are ashamed of their experience, feel they’ve done something wrong, and believe there’s an unfair stigma placed on them.
Cybercrime causes significant mental health damage
On average, cybercrime costs the victims surveyed £808. As a result, one in five struggled to pay their bills or had to cut back spending on essentials like food in the wake of the financial losses their cybercrime incurred. However, the damage cybercrime causes to mental health is less widely understood.
Nearly two-thirds of Britons said they felt traumatised by what happened to them (62%), and a majority also admitted to feelings of shame (59%) and embarrassment (67%). Over half (55%) said they continued to experience anxiety after the cybercrime, especially while using online services, and nearly one in three (29%) had trouble sleeping.
Despite this, many Britons are likely to hide the cybercrime they experienced from others. More than two-fifths (43%) said they avoided telling people about what happened to them, out of fear that they would be judged. A similar number (41%) admitted they hid the true extent of the emotional impact. Nearly two-thirds (64%) blamed themselves for what happened.
‘Cybercrime is incredibly common. And with the rise of AI, it’s becoming even more difficult to tell the difference between a genuine request from someone you know, and a scammer,” said Natalie Billingham, EMEA Managing Director, Akamai. “Cybercrime is not just a technological issue; it’s a human one. Cybercriminals prey on a victim’s vulnerability as there’s still a perception that if you’re a victim of cybercrime, you’ve done something wrong. They rely on their victims not talking about their attack. We need to stop this ‘cyberstigma’ because if we’re more understanding about cybercrime, and talk about it more, we’ll stand a better chance of fighting back against cybercriminals.”
Combatting ‘cyberstigma’
The Britons surveyed experienced a wide range of cybercrimes, including phishing (57%), identity theft (33%), phone hacking (30%), and ransomware (15%). But the majority said they couldn’t find resources and support to help them (55%), and that there needs to be more support for cybercrime victims (70%). Britons reported it took an average of ten weeks for them to feel back to normal after the cybercrime they suffered.
To address this problem, Akamai has published a new guide for dealing with the mental health impact of cybercrime, in partnership with Dr Tara Quinn-Cirillo, associate fellow of the British Psychological Society. It’s Time to Talk About Cyberstigma includes detailed advice for cybercrime victims and those close to them on how to have open discussions about cybercrime, as well as advice for the public on what steps they can take to protect themselves online.
Download It’s Time to Talk About Cyberstigma here: https://www.akamai.com/resources/ebook/akamai-cyberstigma-guide
“Cybercrime can be devastating to an individual’s mental well-being. As this research has shown, self-blame is common, and feeds into feelings of inadequacy that can be incredibly toxic,” said Dr Tara Quinn-Cirillo. “The truth is, today cybercrime can happen to anyone, and it’s so important we consider the mental health effects of this type of crime on victims. I’m proud to contribute to this important work shedding light on this under-reported issue.”
About the research
The research was conducted by Censuswide, among a sample of 1002 respondents who have been a victim of a cybercrime (in the last 12 months) in the UK. The data was collected between 23.08.2024 – 27.08.2024. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.
About Akamai
Akamai Security protects the applications that drive your business at every point of interaction, without compromising performance or customer experience. By leveraging the scale of our global platform and its visibility to threats, we partner with you to prevent, detect, and mitigate threats, so you can build brand trust and deliver on your vision. Learn more about Akamai’s cloud computing, security, and content delivery solutions at akamai.com and akamai.com/blog, or follow Akamai Technologies on X, formerly known as Twitter, and LinkedIn.
About Dr Tara Quinn-Cirillo
Dr Tara Quinn-Cirillo is a Chartered and HCPC Registered Counselling Psychologist and Associate Fellow of the British Psychological Society, with over 20 years’ clinical experience.
Media Contact: Akamai PR, [email protected]
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Artificial Intelligence

Altair Drives Aerospace Innovation at Motivo

Published

6 mins ago

October 15, 2024

CISION (PR Newswire)

altair-drives-aerospace-innovation-at-motivo

Altair’s best-in-class consulting expertise and AI-powered engineering technology help Motivo deliver superior product designs
TROY, Mich., Oct. 15, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, is proud to announce its collaboration with Motivo, a product engineering firm focused on translating forward-thinking visions into best-in-class products for clients in the mobility, energy, agriculture technology, and aerospace sectors. Motivo utilizes Altair’s unique combination of engineering consulting and software to drive innovation for organizations in the aerospace industry.

“We are delighted to collaborate with Motivo and help them advance their engineering innovations by applying leading technology and industry expertise to their process,” said Pietro Cervellera, senior vice president of aerospace and defense, Altair. “Altair has a long history of empowering customers in the aerospace sector to create safer, better, and more sustainable aircraft. Helping Motivo achieve these same outcomes for its clients is just another example that demonstrates our commitment to helping shape a more innovative aerospace sector.”
Motivo uses Altair’s leading technology portfolio to tackle complex analysis and simulation work – particularly in prototype development and testing for aerospace propulsion systems. Motivo has found success using an array of tools from the Altair® HPCWorks® and Altair® HyperWorks® platforms to meet design performance and optimization targets for next-generation subsystems and components such as propeller assemblies for vertical takeoff and landing (VTOL) aircraft.
“Altair’s combination of technical experience, flexibility, and powerful computational software have positioned them to be a key contributor to the success of many of our projects,” said Damon Pipenberg, chief technical officer, Motivo. “Their technology has streamlined our processes, fostered more extensive collaboration, and generally allowed us to design better products for our clients faster.”
Altair’s simulation and high-performance computing (HPC) tools enable Motivo to streamline their design and development processes and leverage true artificial intelligence (AI)-powered engineering capabilities. Motivo also leverages Altair’s unmatched consulting and technical support expertise to take their designs from concept to reality. Having unlimited 24/7 access to Altair’s wealth of technical and domain expertise – in addition to Altair’s leading software portfolio – helps Motivo meet design performance targets in areas such as stiffness, fatigue life cycle, modal frequency, safety margins, and more.
Altair gives Motivo the tools, know-how, and support needed to deliver game-changing results for their aerospace clients on time and on budget. Altair’s capabilities help Motivo perform faster and more accurate analyses, democratize access to compute resources, bolster collaboration, and harness the transformative power of AI-powered engineering workflows.
Founded in 2010 and headquartered in Gardena, CA, Motivo supports a variety of clients, ranging from startups to Fortune 500 firms, in an array of industries including AgTech, mobility, aerospace, consumer electronics, energy, and autonomy. The company’s multidisciplinary team includes electrical, mechanical, controls, and software engineers that leverage a unique product development process to efficiently bring ideas from concept to production, including brainstorming sessions, rapid prototyping, in-house manufacturing, assembly, testing, and low-volume production.
To learn more about Altair’s work in the aerospace sector, visit https://altair.com/aerospace.
About Altair
Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.
Media contacts
Altair Corporate
Altair Investor Relations
Bridget Hagan
Stephen Palmtag
+1.216.769.2658
+1.669.328.9111
[email protected]
[email protected]
Altair Europe/The Middle East/Africa
Louise Wilce
+44 (0)7392 437 635
[email protected]

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