E-commerce and trade

Singapore and the EU advance their digital partnership

The European Union met Singapore in Brussels for the second Digital Partnership Council, reinforcing a joint ambition to strengthen cooperation across a broad set of digital priorities.

Both sides expressed a shared interest in improving competitiveness, expanding innovation and shaping common approaches to digital rules instead of relying on fragmented national frameworks.

Discussions covered AI, cybersecurity, online safety, data flows, digital identities, semiconductors and quantum technologies.

Officials highlighted the importance of administrative arrangements in AI safety. They explored potential future cooperation on language models, including the EU’s work on the Alliance for Language Technologies and Singapore’s Sea-Lion initiative.

Efforts to protect consumers and support minors online were highlighted, alongside the potential role of age verification tools.

Further exchanges focused on trust services and the interoperability of digital identity systems, as well as collaborative research on semiconductors and quantum technologies.

Both sides emphasised the importance of robust cyber resilience and ongoing evaluation of cybersecurity risks, rather than relying on reactive measures. The recently signed Digital Trade Agreement was welcomed for improving legal certainty, building consumer trust and reducing barriers to digital commerce.

The meeting between the EU and Singapore confirmed the importance of the partnership in supporting economic security, strengthening research capacity and increasing resilience in critical technologies.

It also reflected the wider priorities outlined in the European Commission’s International Digital Strategy, which placed particular emphasis on cooperation with Asian partners across emerging technologies and digital governance.

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Europol backs major takedown of Cryptomixer in Switzerland

Europol has supported a coordinated action week in Zurich, where Swiss and German authorities dismantled the illegal cryptocurrency mixing service Cryptomixer.

Three servers were seized in Switzerland, together with the cryptomixer.io domain, leading to the confiscation of more than €25 million in Bitcoin and over 12 terabytes of operational data.

Cryptomixer operated on both the clear web and the dark web, enabling cybercriminals to conceal the origins of illicit funds. The platform has mixed over €1.3 billion in Bitcoin since 2016, aiding ransomware groups, dark web markets, and criminals involved in drug trafficking, weapons trafficking, and credit card fraud.

Its randomised pooling system effectively blocked the traceability of funds across the blockchain.

Mixing services, such as Cryptomixer, are used to anonymise illegal funds before moving them to exchanges or converting them into other cryptocurrencies or fiat. The takedown halts further laundering and disrupts a key tool used by organised cybercrime networks.

Europol facilitated information exchange through the Joint Cybercrime Action Taskforce and coordinated operational meetings throughout the investigation. The agency deployed cybercrime specialists on the final day to provide on-site support and forensics.

Earlier efforts included support for the 2023 takedown of Chipmixer, then the largest mixer of its kind.

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Fake AI product photos spark concerns for online retailers

Chinese shoppers are increasingly using AI to create fake product photos to claim refunds, raising moral and legal concerns. The practice was highlighted during the Double 11 festival, with sellers receiving images of allegedly damaged goods.

Some buyers manipulated photos of fruit to appear mouldy or altered images of electric toothbrushes to look rusty. Clothing and ceramic product sellers also detected AI-generated inconsistencies, such as unnatural lighting, distorted edges, or visible signs of manipulation.

In some cases, requests were withdrawn after sellers asked for video evidence.

E-commerce platforms have historically favoured buyers, granting refunds even when claims seem unreasonable. In response, major platforms such as Taobao and Tmall removed the ‘refund only’ option and introduced buyer credit ratings based on purchase and refund histories.

Sellers are also increasingly turning to AI tools to verify images.

China’s AI content rules, effective from 1 September, require AI-generated material to be labelled, but detection remains difficult. Legal experts warn that using AI to claim refunds could constitute fraud, with calls for stricter enforcement to prevent abuse.

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NVIDIA and Synopsys shape a new era in engineering

The US tech giant, NVIDIA, has deepened its long-standing partnership with Synopsys through a multi-year strategy designed to redefine digital engineering across global industries.

An agreement that includes a significant investment of two billion dollars in Synopsys shares and a coordinated effort to bring accelerated computing into every stage of research and development.

The aim is to replace slow, fragmented workflows with highly efficient engineering supported by GPU power, agentic AI and advanced physics simulation.

Research teams across semiconductor design, aerospace, automotive and industrial manufacturing continue to face rising complexity and escalating development costs. NVIDIA and Synopsys plan to respond by unifying their strengths, rather than relying on traditional CPU-bound methods.

NVIDIA’s accelerated computing platforms will connect with Synopsys tools to enable faster design, broader simulation capability and more precise verification. The collaboration extends to autonomous engineering through AI agents built on Synopsys AgentEngineer and NVIDIA’s agentic AI stack.

Digital twins stand at the centre of the new strategy. Accurate virtual models, powered through Omniverse and Synopsys simulation environments, will allow engineers to test and validate products in virtual space before physical production.

Cloud-ready access will support companies of all sizes, rather than restricting advanced engineering to large enterprises with specialised infrastructure. Both firms intend to promote adoption through a shared go-to-market programme.

The partnership remains open and non-exclusive, ensuring continued cooperation with the broader semiconductor and electronic design ecosystem.

NVIDIA and Synopsys expect accelerated engineering to reshape innovation cycles, offering a route to faster product development and more reliable outcomes across every primary technical sector.

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Cairo Forum examines MENA’s path in the AI era

The Second Cairo Forum brought together experts to assess how AI, global shifts, and economic pressures are shaping MENA. Speakers said the region faces a critical moment as new technologies accelerate. The discussion asked whether MENA will help shape AI or simply adopt it.

Participants highlighted global divides, warning that data misuse and concentrated control remain major risks. They argued that middle-income countries can collaborate to build shared standards. Several speakers urged innovation-friendly regulation supported by clear safety rules.

Officials from Egypt outlined national efforts to embed AI across health, agriculture, and justice. They described progress through applied projects and new governance structures. Limited data access and talent retention were identified as continuing obstacles.

Industry voices stressed that trust, transparency, and skills must underpin the use of AI. They emphasised co-creation that fits regional languages and contexts. Training and governance frameworks were seen as essential for responsible deployment.

Closing remarks warned that rapid advances demand urgent decisions. Speakers said safety investment lags behind development, and global competition is intensifying. They agreed that today’s choices will shape the region’s AI future.

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Meta criticised for AI-generated adverts scams

Meta has faced criticism after numerous consumers reported being misled by companies using AI-generated adverts on Facebook and Instagram. The firms posed as UK businesses while shipping cheap goods from Asia, prompting claims that scams were ‘running rampant’ on the platforms.

Victims were persuaded by realistic adverts and AI-generated images but received poorly made clothing and jewellery. Several companies, including C’est La Vie, Mabel & Daisy, Harrison & Hayes, and Chester & Clare, were removed after investigations revealed fabricated backstories and fake shopfronts.

Consumer guides recommend vigilance, advising shoppers to check company websites, reviews, and use Trustpilot to verify legitimacy. Experts warn that overly perfect images, including AI-generated shopfronts or models, may signal fraudulent adverts.

Platforms such as Facebook and Instagram are urged to enforce stricter measures to prevent scams.

Meta stated it works with Stop Scams UK and encourages users to report suspicious adverts, while the Advertising Standards Authority continues to crack down on misleading online promotions.

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Spar Switzerland expands crypto payments across its mobile app

Spar Switzerland has advanced retail crypto adoption by adding Bitcoin and over 100 digital assets to its mobile app. On-chain QR payments now replace third-party processors, following earlier pilots with the Lightning Network and Binance Pay.

Supportive national regulations continue to make Switzerland one of the most active retail environments for crypto payments. Merchants across the country have increasingly embraced digital assets, encouraged by clear legal frameworks and a population already familiar with fintech services.

The update follows previous pilots involving the Lightning Network and Binance Pay that began in 2025. Lessons from those trials helped shape Spar’s shift towards a fully integrated on-chain payment system.

Industry analysts view the expansion as a strong signal of growing consumer demand for flexible payment options. Broader access in major retail chains often accelerates mainstream adoption and encourages users and businesses to engage more confidently with the crypto economy.

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Mixx and MVola services grow under Axian’s partnership with Mastercard

Axian Group has entered a strategic partnership with Mastercard to expand digital payment services across its mobile network markets. The collaboration covers virtual and physical cards under the Mixx and MVola brands. Both companies say the tools will enable safer, faster cross-border payments.

Consumers will activate and top up virtual cards via the Mixx and MVola apps in markets such as Madagascar and the Comoros. Axian says real-time monitoring features will simplify international transactions. The rollout is designed to broaden financial access through mobile channels.

Axian’s fintech lead, Erwan Gelebart, says the initiative will help SMEs and entrepreneurs in Senegal and Togo adopt secure mobile-payment tools. He argues the partnership strengthens local digital ecosystems. Mastercard sees the cooperation as part of wider financial-inclusion efforts.

Mastercard executive Mete Guney says the collaboration will expand secure digital-payment infrastructure in Tanzania and neighbouring regions. He says new services aim to improve how people pay and get paid. The companies plan phased deployment as demand grows.

Axian rebranded its mobile units to Yas in 2024 across Madagascar, Comoros, Senegal, Togo and Tanzania. Its financial services arms now operate as Mixx by Yas. The new merchant and card tools build on this unified-market strategy.

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South Korea retailer admits worst-ever data leak

Coupang disclosed a major data breach on 30 November 2025 that exposed 33.7 million customer accounts. The leaked data includes names, email addresses, phone numbers, shipping addresses and some order history but excludes payment or login credentials.

The company said it first detected unauthorised access on 18 November. Subsequent investigations revealed that attacks likely began on 24 June through overseas servers and may involve a former employee’s still-active authentication key.

South Korean authorities launched an emergency probe to determine if Coupang violated data-protection laws. The government warned customers to stay alert to phishing and fraud attempts using the leaked information.

Cybersecurity experts say the breach may be one of the worst personal-data leaks in Korean history. Critics claim the incident underlines deep structural weaknesses in corporate cybersecurity practices.

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Fraud and scam cases push FIDReC workloads to new highs

FIDReC recorded 4,355 claims in FY2024/2025, marking its highest volume in twenty years and a sharp rise from the previous year. Scam activity and broader dispute growth across financial institutions contributed to the increase. Greater public awareness of the centre’s role also drove more filings.

Fraud and scam disputes climbed to 1,285 cases, up more than 50% and accounting for nearly half of all claims. FIDReC accepted 2,646 claims for handling, with early resolution procedures reducing formal caseload growth. The phased approach encourages direct negotiation between consumers and providers.

Chief Executive Eunice Chua said rising claim volumes reflect fast-evolving financial risks and increasingly complex products. National indicators show similar pressures, with Singapore ranked second globally for payment card scams. Insurance fraud reports also continued to grow during the year.

Compromised credentials accounted for most scam-related cases, often involving unauthorised withdrawals or card charges. Consumers reported incidents without knowing how their details were obtained. The share of such complaints rose markedly compared with the previous year.

Banks added safeguards on large digital withdrawals as part of wider anti-scam measures. Regulators introduced cooling-off periods, stronger information sharing and closer monitoring of suspicious activity. Authorities say the goal is to limit exposure to scams and reinforce public confidence.

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