MSIG to include anti-scam verification app Ping across its digital platforms
MSIG announced that it will be working with Dedoco to drive the company’s anti-scam efforts by including Dedoco’s anti-scam verification platform Ping across MSIG’s digital platforms.
A 2023 report by the Singapore Police Force said that the number of scam cases had increased by 64.5% in the first half of 2023 compared to the same period in the previous year. With that in mind, Dedoco launched Ping to safeguard business communications.
How Ping works
Ping offers omnichannel protection meaning that it protects different communications platforms like SMS, WhatsApp, Line, Viber, and even email. It operates using blockchain technology with the ledger held by Dedoco to provide secure and scalable evidence linkage and verification.
The Ping platform hashes and signs full message records before storing them on the blockchain, so that when end-users receive the messages, they can check on the app immediately if this is 100% authentic.
By only storing hashed representations of the content Ping does not need to store copies of actual business communication with its customers, removing data privacy concerns and third-party risk.
Unlike other anti-scam solutions that use content analysis, Ping’s solution registers and validates both sides of business-to-consumer communication across all communication channels typically used by businesses. Through the verification of the entire message content, Ping removes the threat of message manipulation in transit, or more commonly, social engineered scams which rely on the sharing of false information or instruction via the impersonation of brands.
The companies say that the partnership will provide both a digital solution to facilitate the verification and reporting of malicious communication, as well as streamlined access to cyber insurance for local businesses who can buy it online from MSIG intermediary partner Embed Global, rather than needing to fill in a form for submission. In addition, Ping will be offered as value-added support.
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