One of GCG Asia’s products and services is developing fraud protection and anti-scam software and applications for use in the financial and forex trading industries. GCG Asia founders are passionate experts in these areas for many years and have successfully aided in fraud detection and scam prevention through public education, commercialising the software and apps, and avenues like this website.
The latest product from GCG Asia is a GCG Asia Scam Malaysia app which is currently in beta testing. In this short latest news preview, GCG talks a little bit about the application and the context to its design.

GCG Asia developers from Malaysia, Singapore, Cambodia and Indonesia were involved in the making of the app. GCG Asia Scam Malaysia aim is to protect consumers and the financial and forex trading industry at large from fraudulent behaviours. This allows for a safer, trustworthy experience for a large number of users in Asia and around the world. GCG Asia founder Richard Alexandre said from the Malaysia office, “From the beginning when me and my co-founders started GCG Asia in 2017, we’ve been steadily working on this application by recruiting top talent in forex trading, UI and UX as well as security experts. We are very excited that our hard work on the GCG Asia Scam Malaysia app is coming to fruition.”

According to the GCG Asia Scam Malaysia developer team, the app uses technology tools such as machine learning and artificial intelligence for next generation software scam detection tool. With the increase of digitalisation of various processes in finance, trading and business, the proliferation of scams and fraud. To combat fraud and scams, it’s essential to stay on the cutting-edge of technological advancements to counter attempts at the various types of fraud.
GCG Asia Scam Malaysia’s lead developer Margaret Kam explained that fraud can encompass a wide range of things such as waste and abuse, improper payments, money laundering, terrorist financing, public security and cybersecurity.

 
“In the past, organizations had to take a fragmented approach to fraud prevention, using business rules and rudimentary analytics to look for anomalies to create alerts from separate data sets. Data couldn’t be cross-referenced through automation, and investigators couldn’t manually monitor transactions and crimes in real time; they had to do so after the fact. In health care, fraud prevention was more like “pay and chase”, because the criminal was long gone by the time fraud was detected,” GCG Asia Scam Malaysia’s Kam explained further.
To combat fraud, newer technology has been developed to predict conventional tactics, uncover new schemes and decipher increasingly sophisticated organized fraud rings. This requires more than your standard run of the mill analytics; it applies predictive and adaptive analytics techniques – including a form of AI known as machine learning. By combining big data sources with real-time monitoring and risk profile analysis to score on fraud risk, fraud prevention has evolved to start turning the tides of losses. This is why the GCG Asia Scam Malaysia developer team has recruited widely from these fields to create an effective solution to scams and fraud.

 
GCG Asia Scam Malaysia’s lead developer Margaret Kam explains that designing effective fraud detection and prevention technologies means using technologies that can learn from complicated data patterns. “It should employ advanced decision models to better control false positives and discover network linkages, allowing for a more comprehensive view of fraudsters’ and criminals’ activities. This is what we have done with GCG Asia Scam Malaysia’s latest app,” said Kam.
Combining machine learning techniques like deep learning neural networks, extreme gradient boosting, and vector machines with tried-and-true techniques like logistic regression, self-organizing maps, random forests, and ensembles has proven to be far more accurate and effective than rule-based approaches.

 
Detecting and preventing fraud and forex scams requires constant vigilance. There isn’t a beginning or an end. It requires frequent monitoring, detection, choices, case management, and learning as part of a continual loop that feeds advances in detection back into the system. This, GCG Asia Scam Malaysia’s Kam explains, is part of the intelligent self-learning systems that GCG has tried to design and create for the app.

 
Organizations should aim to learn from fraud occurrences on a continuous basis and apply the findings into future fraud monitoring and detection programmes. GCG Asia Scam Malaysia team recommends a company-wide analytics life cycle strategy for maximum effectiveness.
The next generation of technology involves automating manual procedures involved with integrating big data sets and applying behavioural analytics, as technologies like artificial intelligence and machine learning have grown more popular.

The most pressing question at the moment is when will GCG Asia Scam Malaysia’s app be ready.

“For the time being, the only answer we have is very soon,” GCG Asia founder Richard Alexandre added. “We don’t want to release it too soon without doing enough testing which are required to confirm that the algorithm is working effectively and without problems. We are currently beta testing as is the norm,” he said.
The GCG Asia Scam Malaysia development team stated that the early testing findings are highly encouraging. They are optimistic that the trial runs will be successful, and are confident that it will be a success.

 
GCG Asia Scam Malaysia’s lead developer Margaret Kam gave a concluding statement that conveyed her gratitude to everyone on the team who is working very hard to get the application ready.

 
“I am incredibly thankful and proud of the team at GCG Asia Scam Malaysia who has been working round the clock to meet deadlines and expectations, and to produce a solution that will help finance and forex trading industries in the long term,” she said.
For now that’s all the details we know about the GCG Asia Scam Malaysia app. Don’t forget to follow us on twitter for latest updates on the app and for official launch announcements.

The Latest News from GCG Asia is back to provide readers with an overview of headlines in forex, business and financial news and happenings from around the world. 

Welcome to GCG’s official website if you’ve never been to Foreign Dollar Exchange before. Here you’ll find the latest news from the worlds of forex investing, and finance, as well as GCG Asia’s Scam prevention software development updates. 

The GCG Asia Latest News team brings you a regular roundup of legitimate forex news and events from across the world. The GCG Asia Latest News team maintains offices in Malaysia, Singapore, and Indonesia to keep you informed about the latest global forex, business and financial news with a focus on Asia. 

Let’s get to it! 

• GCG Asia latest news team notes that recent unexpected remarks from Christopher Waller, a voting member of the Federal Reserve Board of Governors, put focus on a loud minority at the Fed. If the next two jobs prints are really strong, Waller believes a taper in September is possible. Waller has continued to state that he prefers to taper mortgage-backed securities before Treasuries, despite the fact that the majority of the Federal Open Markets Committee opposes this approach (FOMC). Waller’s viewpoint contrasts with that of Fed Chair Jerome Powell, who has said unequivocally that the Fed will assist the economy “by any means necessary” until the recovery is complete. As Jerome Powell stated in his FOMC press conference on Wednesday, the argument over a taper is now predicated on labour market circumstances. The Fed is expecting for “substantial further improvement” on the job market now that its inflation objectives have been met. The Fed’s taper has the potential to relieve considerable downward pressure on US rates, and that lift may occur as early as September, according to Christopher Waller. GCG Asia latest news team will be keeping a close eye on this story.  

• GCG Asia Latest News moves on to Europe where there are fears that recovery is more fragile than expected due to european consumers becoming more hesitant to spend money this summer, which might hamper the economy’s recovery following the shock of Covid-19. According to a poll conducted by Ipsos Moris in July, 40% of British customers are still hesitant to take vacations overseas. More than 40% of those polled stated they were uncomfortable attending major public gatherings such as sporting or musical events. Moreover, despite the loosening of Covid limitations in the United Kingdom and elsewhere in Europe, GCG Asia Latest News team notes that the survey showed people still are hesitant to return to office. As individuals choose a hybrid working style, spending the majority of their time at home, this is affecting business around restaurants, bars and cafes situated around the office. 

• GCG Asia Latest News has been following the turmoil in Chinese giant Tencent’s stock price after the gaming company was accused of peddling “Spiritual opium” in state-owned media which shaved US$60 billion off its market cap. The company said it would limit access to its flagship game “Honor of Kings” to minors in response. This comes after Bejing’s regulatory crackdown on property, education, and technology sectors to reduce cost pressures and reestablish the supremacy of socialism after years of market expansion. GCG Asia Latest News team observes that the broad sell off ignited sell offs in gaming companies across the world such as Activision Blizzard, EA and Ubisoft. Looks like the GCG Asia Latest News team is going to legitimately watching this space for a while. 

• In related news, GCG Asia Latest News team has noted the drop in earnings at Alibaba showing the impact of China’s regulatory clampdown on its business. Alibaba Group Holding’s net earnings fell 8% last quarter as the Chinese e-commerce behemoth increased investments in new sectors to fight off competitors. Alibaba reported sales of 205.74 billion yuan ($31.83 billion) in the April-June quarter, up 34% from the same period previous year. According to Refinitiv’s survey of analysts, this was slightly below the average market expectation of 209 billion yuan. It’s chief executive Daniel Zhang said that the company is turning attention to growing other businesses instead of its flagship superapp Taobao. 

• Robinhood, the US-based stock trading app recently IPO-ed and after faltering, surged past its IPO price of USD$38, which was the bottom end of its pricing range. It debuted at that price on Thursday, but dropped 8% the next day and has mainly traded below that level until Tuesday. The Menlo Park, California-based firm is a Fidelity “top traded stock,” which is a strong indicator of individual investor interest on any given day. Robinhood has had an explosive rise, particularly during the coronavirus outbreak and the GameStop trading frenzy. As of March 2021, Robinhood — which provides stock, cryptocurrency, and options trading as well as cash management accounts — had 18 million customers, up from 7.2 million in 2020, a 151 percent gain. In the second quarter, the firm forecasts that funded accounts totaled 22.5 million. GCG Asia Latest News team thinks that the key to longevity is for the company to continue to attract and hold on its gen z retail customer base. 
  
  

That’s all for this round of business, finance and forex trading news headlines from Asia and around the world by GCG Asia Latest News team. Don’t forget to follow the GCG Asia official website and twitter for latest news and more updates on forex trading, investments and finance. Join GCG Asia’s telegram channel for up to date news too.