SHANGHAI: When William Zhang's car insurance was about to expire in March, he didn't need to look far for renewal options. In the two months before the policy was up Zhang received calls almost daily from insurers trying to sell him a new one.Since his initial policy was from Ping An Insurance Group, it was natural the company had been in touch."What confuses me is how other insurance companies knew about it," said Zhang, a 26-year-old government employee from Shandong. Three other car owners told Reuters that they had experienced the same problem.Personal data has become widely available in China and can be scooped up for pennies by insurance companies, banks, loan sharks, and scammers alike, according to sellers and financiers interviewed by Reuters.In May, China introduced its most comprehensive data protection laws to date, tightening restrictions on the sharing of private data held by financial institutions and other firms."Personal information leaks are risky," said Susan Ning, a … [Read more...] about Data dump: China sees surge in personal information up for sale
Data for sale
South Korean electronics giant Samsung unveiled the new Galaxy Note 9 smartphone Thursday, its latest effort to address flagging sales of the high-functioning gadgets. Boosting the power and the price, Samsung hopes to win back customers in the competitive market. The consistent leader in the global smartphone market, the company nonetheless suffered a 22 percent drop in mobile technology sales in the second quarter. The company blamed the drop in part to disappointing demand for the Galaxy S9, but it also has been pressured by growth in Chinese competitor Huawei. At a glitzy the launch event in Brooklyn, Samsung unveiled a suite of high tech products, including a smart speaker and watch, and then showed off the new Galaxy Note 9, which will be available for purchase on August 24. The phone contains a series of improvements but was described by analysts as having no radical new innovations. The latest model boosts memory capacity, and allows customers to play video games such as … [Read more...] about Samsung unveils newest smartphone hoping for sales boost
KUALA LUMPUR: The provision of services will be taxed at 6% under the reintroduced sales and services tax (SST), while the sales of goods will incur a 10% tax, said Finance Minister Lim Guan Eng. He said the SST bill is expected to be passed in August during the current parliamentary seating and would be implemented in September. "The SST will be reintroduced on Sept 1, and bring in a projected revenue of RM4 billion," he said at the launch of the National Tax Conference 2018 here today. He said the SST, coupled with rising crude oil prices and extra dividend from government-linked companies, would bring in an extra RM14.4 billion revenue for the government to compensate for the loss of RM21 billion revenue from the zero-rating of the goods and services tax (GST) from June this year. "To fill the gap left by the GST, the ministry has identified RM10 billion worth of expenditure savings," he said. He said these measures include downsizing and abolishing overlapping and non-urgent … [Read more...] about SST to be set at 6% for services, 10% for sales
SINGAPORE: How can data be used to address a real-life issue like road rage and its impact on the road safety conditions in one’s country?That was the problem statement oil company Shell put forward to communications company Edelman in 2017, as it tried to tackle road rage in Malaysia where statistics showed that an average of 18 people die every day in road accidents, said Mr Yeelim Lee, general manager of Edelman Predictive Intelligence Centre, during a recent interview with Channel NewsAsia.In order to understand some of the causes for road rage among drivers, wearable tracking devices were handed to 300 volunteer drivers during a two-week period last April. These emotion tracking wristbands measured biometric information such as heart and breath rate, mood, sleep and exercise, said Mr Lee.“This was to understand their peak stress periods,” he explained, adding that such data was meshed with other data sets such as the weather, traffic conditions as well as driving … [Read more...] about Edelman and EDB want to unlock companies’ ability to use data for good
By Stuart Leavenworth McClatchy Washington Bureau Sun., June 3, 2018 LEHI, UTAH—It markets its DNA kits with promises that tug at the heartstrings: Discover ancestors. Strengthen family ties. Understand your life. Aided by venture capital and a flood of savvy marketing, Ancestry LLC has grown to become the world’s largest DNA testing conglomerate. Since 2012, it has lured more than 5 million people to spit into tubes and add their genetic code to the world’s largest private database of DNA. It has also banked away the world’s largest collection of human spittle, numbering in the hundreds of gallons. In the age of Facebook and Google, consumers seem comfortable surrendering their personal information to corporations that aggregate it and monetize it. But Ancestry and other DNA testing companies have added an audacious tweak: Consumers are now paying to hand over their genetic code, their most sensitive individual identifier, to companies that … [Read more...] about DNA for sale: Ancestry wants your spit, your DNA and your trust. Should you give it to them?