Personal Finance
Compromised: Data Breaches in Singapore and How Consumers Pay the Price
By Seedly  •  September 19, 2022
If you have been following the news lately. You might have seen numerous reports of data breaches, where malicious actors steal a company/organisation’s customer data for their ends. Just a few days ago, The Straits Times reported that about 330,000 Starbucks Singapore customers’ data was leaked and sold online for just $3,500. Also, who can forget MyRepublic, who were ordered to pay a small $60,000 fine for failing to safeguard the personal data of about 79,388 Singaporeans and Permanent Residents (PRs). More egregiously for the MyRepublic case, scanned copies of National Registration Identity Card (NRICs) and work pass cards were stolen. Picard Facepalm GIF Source: Giphy But to be fair, MyRepublic and Starbucks are not the only black sheep, as numerous companies and organisations in Singapore have had their databases breached. So much so that according to cyber security company Group-IB, Singapore is now ranked sixth in the world for having the...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.

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