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News on Medial
Criminal networks in Southeast Asia flourish in Telegram's 'underground markets': UN
Economic Times
·
10m ago
Medial
1. Criminal networks in Southeast Asia are extensively using the messaging app Telegram for large-scale illicit activities, according to a report by the UNODC. 2. The app has sprawling channels with little moderation, allowing open trading of hacked data, including credit card details and passwords. 3. Tools for cybercrime, such as deepfake software and data-stealing malware, are widely sold on Telegram, along with unlicensed cryptocurrency exchanges offering money laundering services. 4. The report states evidence of underground data markets moving to Telegram and vendors actively targeting transnational organized crime groups in Southeast Asia. 5. Southeast Asia has become a major hub for a multibillion-dollar industry that targets victims worldwide with fraudulent schemes, generating billions of dollars annually. 6. Pavel Durov, the founder of Telegram, has been charged with allowing criminal activity on the platform, raising questions about app providers' criminal liability and freedom of speech.
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China crackdown on cyber scams in Southeast Asia nets thousands but leaves networks intact
Economic Times
·
1y ago
Medial
A recent crackdown on cyber scams in Southeast Asia by China has resulted in the detention and repatriation of thousands of people involved in criminal networks. However, experts believe that the efforts are not comprehensive enough to eliminate the problem entirely. Chinese criminal syndicates continue to operate in countries like Myanmar, Cambodia, and Laos, preying on both Chinese and non-Chinese individuals through fake investment schemes and digital romances. The ongoing presence of these criminal networks hampers China's efforts to restore its image and discourages Chinese travelers from visiting Southeast Asia.
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Flourish Ventures’ Ehrbeck, Kaushik on investment thesis, India plan and more
VCCircle
·
12m ago
Medial
Flourish Ventures, a venture capital firm focusing on investing in financial services, particularly in the fintech sector, plans to invest in the US and large emerging markets like India. The firm was spun out from Omidyar Network in 2019, with eBay founder Pierre Omidyar as its sole limited partner. Managing partner Tilman Ehrbeck and Asia investment head Ravi Kaushik discuss the firm's investment thesis, its plans for India, and more.
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PayU’s global CEO, CFO likely to quit after Prosus part-sells payments business
Economic Times
·
1y ago
Medial
PayU India CEO Anirban Mukherjee is now slated to directly report to Prosus chief executive officer Bob Van Dijk and may take up additional responsibility for other international markets including Turkey and Southeast Asia.
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Antler’s founder on its vertical AI bet in Southeast Asia
TechCrunch
·
1y ago
Medial
Singapore-based venture capital firm Antler has invested $5.1m in 37 vertical AI startups in Southeast Asia. Antler's co-founder and managing partner, Jussi Salovaara, believes that founders in Southeast Asia are focusing on solving practical problems in different industries rather than pursuing horizontal AI. Each country in the region is seeing different trends within verticalized AI, with Vietnam's founders prioritising domestic markets, while Indonesian startups focus on their large domestic market rather than international expansion. Antler's investments include platforms for cross-border logistics, market research automation, and digitising project claims in the construction industry.
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Indian govt probes Telegram as CEO Pavel Durov arrested in France, potential ban looms: Report
Internet
·
11m ago
Medial
The Indian government is investigating Telegram over concerns of its use in criminal activities, including extortion and gambling. This follows the arrest of Telegram's CEO, Pavel Durov, in Paris on August 24. The probe, led by the Ministry of Home Affairs and MeitY, could lead to a potential ban on the app in India depending on the investigation's outcome.
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CarDekho’s Southeast Asia unit raises $60 mn from Navis Capital, others
VCCircle
·
8m ago
Medial
Indian automobile marketplace CarDekho has raised $60m in the first external funding round for its Southeast Asia unit, CarDekho SEA. The funding was led by private equity firm Navis Capital Partners, Dragon Fund and Liquidity Group. CarDekho SEA aims to use the funding to enhance its capabilities and strengthen its presence in Southeast Asia. The company has already raised $40m from its parent company, bringing its total funding to $100m. The Singapore-based SEA unit offers services such as used car finance, dealer inventory funding and classifieds across several Asian markets.
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Co-working firm Innov8 goes into arbitration with Rahul Yadav's 4B Networks for unpaid dues
Money Control
·
1y ago
Medial
Rahul Yadav, the founder of 4B Networks, is facing mounting legal troubles, including arbitration and criminal cases. In addition to his arbitration dispute with Info Edge, it's revealed that 4B Networks and Yadav are also in arbitration with Innov8 over unpaid rent of Rs 1.08 crore for an office space. Innov8 has filed a criminal case under the Arbitration and Conciliation Act after failed attempts to resolve the issue. Another arbitration case involving 4B Networks is also facing difficulties, with Yadav requesting more time for understanding the arbitration case with Info Edge. A criminal case has also been filed against Yadav by an ad agency for Rs 10 crore in unpaid dues.
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Everstone Capital set to onboard returning LP for fifth fund
VCCircle
·
3m ago
Medial
Everstone Capital, a Singapore-based private equity firm specializing in India and Southeast Asia, is preparing to welcome a returning limited partner for its fifth fund. The new fund will focus on mid-market companies in the region. Co-led by Sameer Sain and Atul Kapur, Everstone Capital aims to strengthen its investment portfolio, leveraging returning investors' trust and targeting promising businesses across the Indian and Southeast Asian markets.
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Nazara’s NODWIN Gaming Partners Global Esports Federation To Fuel Expansion
Inc42
·
1y ago
Medial
NODWIN Gaming, the esports subsidiary of Nazara Technologies, has signed an agreement with the Global Esports Federation (GEF) to become the portfolio management company for emerging markets in South and Central Asia, Africa, the Middle East, and parts of Southeast Asia. With this deal, NODWIN Gaming has gained exclusive rights to create and market GEF-licensed esports events in over 20 countries, including India, Pakistan, Kazakhstan, and Bahrain. The company aims to expand globally and leverage its partnership with GEF to provide esports opportunities to youth in emerging markets.
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Flipkart cofounder Binny Bansal launches new startup Opptra
Economic Times
·
4m ago
Medial
Flipkart cofounder Binny Bansal has launched Opptra, a tech-driven startup aimed at scaling brands in Asian markets. Opptra, with two operational subsidiaries, Exporio and Terraspan, is led by executives from Amazon, Flipkart, and Swiggy. Exporio targets fashion brands in the GCC, while Terraspan focuses on home and kitchenware in India and Southeast Asia. Opptra plans to become a leading franchise partner for brands, leveraging its comprehensive capabilities to expand globally, starting with Asia.
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