The Digital Source For China's Tech Innovation Since 2000

Search
Close

Alibaba Throws Money At Internet Privacy

April 15, 2014
Internet | Security | Telecom & Wireless

Hu Xiaoming, Alibaba's vice president for small- and micro-financial group and chief risk officer, announced in Beijing that the company will invest CNY40 million to establish a security fund.

The security fund will be used to fight Internet phishing, trojans, money laundering, malicious attacks, and to protect user information.

The security fund will cooperate with banks, financial organizations, industry peers, and security manufacturers. Meanwhile, Alibaba's Internet payment subsidiary Alipay will enhance security investment in product design. The upcoming Alipay wallet version 8.1 has reportedly added innovative security services such as device management and short message safeguards.

With the device management function, users can use their own mobile phones to check on which mobile phones they have ever used with Alipay and they can delete those records via their own mobile phones. Commenting on the new function, Hu said that most mobile payment users make payments with multiple mobile phones and this new device management service will effectively control the risk of losing personal information.

Tags: Alibaba | Alipay | bank | finance | Internet payment | malware | mobile | mobile payment | online payment | phisher | phishing | SME | spam | trojan | Wireless | wireless payment

Other Related News:

Alibaba Gambles On Smart City Development In Macau

August 11, 2017

China fines Didi $1.2 billion for illegally collecting users' data

July 22, 2022

US warns Chinese hackers have their ‘most advanced' backdoor yet

March 3, 2022

Myrice An Entertainment Portal?

October 21, 2004

China launches the digital yuan wallet app

January 6, 2022

Alibaba, JD.com in the red as Chinese tech stocks get caught up day's selloff

June 17, 2022

China Online Education Group (NYSE:COE) Short Interest Up 40.0% in September

October 18, 2021

Digital TV Programs Start In Shanghai

July 2, 2008

China To Host Agricultural Hi-Tech Fair

October 10, 2003
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter