Fintech PR
Binance Prevents $2.4 Billion in Potential User Losses in 2024 So Far
Proactive efforts by Binance protected over 1.2 million users from suspected scam and fraud, demonstrating the organization’s unwavering commitment to user protection
DUBAI, UAE, Aug. 20, 2024 /PRNewswire/ — Binance, the leading blockchain ecosystem behind the world’s largest crypto exchange by trading volume, is pleased to announce that from January to July 2024, it prevented over $2.4 billion in losses from potential scams and fraudulent activities that could have impacted more than 1.2 million users. This achievement is the result of Binance’s comprehensive risk management measures, which help to effectively detect and flag suspicious transactions across the platform.
Binance employs a sophisticated internal risk engine that conducts real-time monitoring on a 24/7 basis, leveraging a hybrid of artificial intelligence (AI)-based and manual review. This allows the Binance team to dynamically and precisely detect suspicious transactions and take action to protect users quickly. The risk engine operates across all verticals of the Binance ecosystem, safeguarding users in various domains, including P2P trading, payments, crypto network withdrawals, and more. Multiple layers of controls are integrated within the system to ensure that risk exposure is mitigated and the overall risk level remains within an acceptable range.
The stage at which suspicious transactions are flagged most often is the crypto withdrawal stage. Out of the $2.4 billion in prevented losses recorded so far this year, withdrawals linked to suspected crypto scams make up over $1.1 billion, or approximately 45% of the total amount.
“Being user-focused has always been a key priority for us at Binance, which underlies our emphasis on building and maintaining industry-leading technological tools and processes that enable us to protect our users and their assets around the clock,” shared Rohit Wad, Chief Technology Officer at Binance. “Preventing over $2.4 billion in potential losses over just seven months is testament to our hard work and dedication over the years. We are glad that our efforts are helping to create a safer ecosystem for users, and we will continue to embrace our responsibility as an industry leader by regularly improving our systems and capabilities to stay ahead of potential threats.”
Beyond monitoring and detection, Binance also employs a wide array of tools and measures to protect users from crypto scams. The organization’s risk control measures are divided into eight levels according to the severity of the risk, ensuring a balance between user experience and security. These measures range from customized pop-up notifications to cooldown features and wake-up calls. Additionally, Binance offers various appeal handling channels, from fully automated to manual processes, to assist users who have been flagged as potentially at risk and are looking to resolve their issues.
While Binance continues to go above and beyond to protect and secure users’ assets, the company also emphasizes the importance of user vigilance.
“We also urge our users to remain vigilant and take responsibility for their own security,” added Rohit. “While our team has implemented extensive measures to protect your funds, ultimately, users themselves play the largest role in safeguarding their assets. Stay informed, use strong security practices, and be cautious of potential scams.”
Today’s announcement closely follows another recent report that Binance has secured over $73 million in misplaced or lost funds for external parties as of July 31 this year. The company will continue to innovate and enhance its security measures to ensure a safe and secure environment for all crypto users, both within its platform and beyond.
About Binance
Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 200 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means.
For more information, visit: https://www.binance.com
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Fintech PR
Healthcare leaders gather at House of Commons to discuss productivity-boosting tech with MyStaff app
LONDON, Nov. 15, 2024 /PRNewswire/ — Healthcare leaders from 16 NHS trusts gathered at the House of Commons this week to see how Mid and South Essex NHS Foundation Trust is using a groundbreaking new app that transforms staff access to information vital to their patients’ care.
The MyStaff app uses AI and automation to simplify the management of critical policies and procedures, reducing the time staff spend searching for information from almost 10 minutes to under 30 seconds. Over 12,000 of the Trust’s staff have signed up, and around 1,000 are using the app daily.
With £2bn pledged to help digitise the NHS and bring down waiting lists, such time-saving tech is high on healthcare’s agenda. Trust Chief Executive Matthew Hopkins introduced the session, which was hosted by David Burton-Sampson, MP for Southend West and Leigh, and saw technology strategists and users share their experiences of digitising vital healthcare operations.
Matthew said: “Our Trust is working to make the best use of digital technologies wherever this can help staff to provide the best possible care to our patients. MyStaff app is a versatile and easy-to-use tool that improves our governance processes and makes it easy for staff to access the vital clinical information they need when treating patients.”
The Trust developed MyStaff app with digital innovators Diligram, who have created a digital governance solution that helps ensure staff use the latest policies and guidance when delivering patient care. Document compliance rates have grown from 60% to 98%, whilst projections indicate the app could release 55,000 hours’ worth of staff capacity over 3 years, worth almost £4m in staff costs and giving staff more time on patient-facing care.
Diligram CEO Leslie Golding said: “We have worked closely with the Trust on developing groundbreaking technology that supports our healthcare heroes by simplifying access to essential information. We’re proud to be part of this brilliant example of positive digital change.”
Editor’s notes
- Contact: Rob Benson, 07815098560, [email protected]
- Further images, interviews, site visits available
About MyStaff app
The MyStaff app from digital transformation company Diligram is time-saving tech that offers a mobile-first digital corporate governance solution for healthcare providers.
Web: mystaffapp.io
About Mid and South Essex NHS Foundation Trust
MSE is one of the largest Trusts in the country, serving around 1.2million people. Our values are about delivering excellent, compassionate and respectful care.
Web: mse.nhs.uk
Photo – https://mma.prnewswire.com/media/2558941/MSE_CEO_Matthew_Hopkins_MyStaff_app.jpg
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BEIJING, Nov. 15, 2024 /PRNewswire/ — On November 14, 2024, ThunderSoft (Stock Code: 300496), a world leading OS and intelligent device products and technology provider, and HERE Technologies, the leading location data and technology platform, announced a strategic partnership to enhance collaboration in intelligent navigation and high-definition maps. The collaboration aims to support the efficient development of navigation systems, contributing to a more connected and intelligent mobility ecosystem.
The agreement will see both companies maximize their technical strengths and platform resources for comprehensive, multifaceted cooperation. ThunderSoft’s Aqua Drive OS will integrate HERE location data and services, including HERE SDK, HD Map and autonomous driving solutions. These AI-powered elements, create a foundation for developers worldwide to build intelligent system platforms. Additionally, the partnership will deliver tailored intelligent navigation solutions for international markets, addressing the diverse requirements of automotive manufacturers and consumers.
The companies will also collaborate to develop immersive and interactive 3D high-definition mapping solutions by combining HERE’s map data with ThunderSoft’s Kanzi Map engine, establishing a new benchmark in intelligent driving and navigation.
Deon Newman, Senior Vice President and General Manager of HERE Technologies said, “This strategic partnership with ThunderSoft represents a transformative step in delivering on the potential of AI and software-defined vehicles. By uniting our best-in-class location technology with ThunderSoft’s advanced system capabilities, we will together deliver greater insight and intelligence to every journey, empowering our clients to create richer, more personalized experiences for their customers worldwide.”
Hengshang Chang, Executive President and President of SmartVehicle Business Group of ThunderSoft, highlighted the strategic importance of the collaboration, “Our collaboration with HERE holds immense significance. By integrating HERE’s map data and location platform capabilities with ThunderSoft’s pioneering vehicle OS technology, we aim to develop more competitive, globally-oriented intelligent navigation systems for the automotive industry, enabling automakers to achieve accelerated growth.”
About HERE Technologies
HERE has been a pioneer in mapping and location technology for almost 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. Find out how HERE is moving the world forward at here.com.
About ThunderSoft
ThunderSoft, a well-known intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart phone to smart vehicle, AIOT and smart industries. Website: https://en.thundersoft.com
View original content:https://www.prnewswire.co.uk/news-releases/thundersoft-partners-with-here-technologies-to-enhance-intelligent-navigation-solutions-302307004.html
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
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