SINGAPORE, May 12, 2020 – Trend Micro Incorporated, a global leader in cybersecurity solutions, today announced the launch of ID Security, an app-based solution to combat identity theft by scanning the dark web for personal data. Trend Micro has found that concern around identity theft is at a high amongst Singaporeans, with almost all (90 per cent) reporting concern around it happening to them, according to its latest research. While identity theft is not new to Singaporeans, the prevalence of digital devices gives cybercriminals increased access to valuable personal details, often for financial gain.
Armed with the stolen information, identity thieves can assume their victims’ identities online and trick friends or family into divulging valuable information such as their mobile numbers and One-Time Passwords (OTP). Such social impersonation scams have lost Singaporeans a hefty S$3.1 million in 2019, a S$2 million increase from the year before. According to Trend Micro’s research, which surveyed 1,000 Singaporeans in 2019, this potential financial impact may be why almost half (44 per cent) of respondents say they check their accounts weekly for suspicious activity.
“Cybercrime involving the theft of personal data, including identity crime and fraud, can have a significant impact on the lives of everyday Singaporeans,” said Tim Falinski, Managing Director, Consumer, APAC, for Trend Micro. “As our lives have moved increasingly online, so too has identity theft. The vast amounts of personal data available online, which often is not protected to an adequate level to keep it secure from cybercriminals, is putting Singaporeans at risk.”
However, while many Singaporeans are concerned around securing their personal data online, only one-in-three (35 per cent) use identity protection solutions, such as those protecting against keylogging and monitoring online for data theft, and many continue to share personally identifiable information online. This includes their address details, date of birth, NRIC number or passport – all of which can be used maliciously if in the wrong hands. In 2019, at least 26 companies were either fined or warned for infringing the Personal Data Protection Act (PDPA) in Singapore, and these data breaches may have impacted the consumers without their knowledge.
“While it’s great to see that Singaporeans are concerned about the safety of their personal data and its misuse, many may not realise that their actions are in fact putting this data at risk. Singaporeans now consistently see the impact of frequent data breaches, but many don’t actually know how they’ve been personally impacted. This isn’t because they don’t want to, but are unsure of how to track it themselves. This is why we have launched ID Security. With the rise in the exchange of data on the dark web, people’s data can travel further than before and with significant ease for cybercriminals. ID Security helps protect against this and give Singaporeans visibility of their data.”
Trend Micro has launched its newest solution, ID Security, which combats identity and personal data theft through dark web monitoring. This tackles the rising concern around identity theft and data protection as the cybercriminal marketplace grows.
The app-based solution searches the dark web, a collection of websites on an encrypted network carefully hidden from popular web browsers and search engine, to find which data breaches leaked personal data and which accounts were affected. It can monitor and send alerts if information is found on the dark web, including email addresses, credit cards passwords, passport numbers and more.
Trend Micro ID Security uses sophisticated encryption technology to protect personal data and shield privacy. ID Security is available now online (via the website or app store), and in-stores soon as part of the Trend Micro Security Suite which includes Maximum Security, WiFi Protection and Password Manager solutions. The Trend Micro Security Suite is powered by the Trend Micro™ Smart Protection Network™, which blocked more than 412 million email threats and 20 million attempts to click on malicious URLs in Singapore in 2019.
To find out more on Trend Micro’s ID Security, visit: https://shop.sg.trendmicro-apac.com/products/id-security.asp