We are all in intimate relationships with the apps that we use.
I’m serious. Is there any human being who knows where you are at all times, knows about every single thing you’ve spent money on, has logs about every video and podcast you’ve started (and maybe finished), and knows exactly what your browser history looks like?
Your answer is likely no. But the apps that we use—and the companies that operate them—probably have access to that information.
That’s why having your account taken over by malicious parties can be a traumatic experience. The nasty feeling isn’t just from losing money that was stored in a wallet or being deprived of the services that we’ve become accustomed to using regularly. It’s more about violation, with a private part of our lives being ripped from our control and forcefully surrendered to someone else.
If we’re using a single app to perform many functions, the sense of attachment is even deeper, and the need for strong security becomes even more important.
Khamila spoke to the head of risk at Grab Financial Group, Farrah Harriet Ratnaike, to find out what the company is doing to prevent fraud, scams, and other unpleasantness. With smartphone-based services becoming ubiquitous and practically essential, Ratnaike’s job is all the more crucial. You can read Khamila’s article here.
Hong Kong, Singapore investors tread carefully on SPAC listings.