Source: Aleta Planet
Homegrown fintech firm Aleta Planet said it has hired Mr Daniel Ang as Head of Risk Management with effect from today.
In his new role, Mr Ang will help to strengthen Aleta Planet’s fraud and risk management capabilities amidst the Covid-19 pandemic, which has further exacerbated fraud, money laundering and terrorist financing activities, according to PwC. His responsibilities include developing groupwide risk management policies and procedures, fraud risk strategies and rules, managing fraud reporting, overseeing the risk team and training risk managers.
He will report to Ms Goi Wang Firn, Head of Group Operations, Aleta Planet.
Mr Ang has over 30 years of experience in fraud risk management, including developing fraud detection systems, handling investigations into alleged corporate wrongdoings, and writing global policies covering fraud detection, prevention and response.
Prior to joining Aleta Planet, Mr Ang worked in Singapore and Indonesia for companies like Citibank, Bank Mandiri and Quatrro Risk Management Consulting Services. He started his career in 1977 as a police officer before becoming a specialist investigator with the Commercial Crime Division, Criminal Investigation Department.
Founder and Group Chairman of Aleta Planet Ryan Gwee said: “Daniel has over three decades of experience in risk management, developing various financial risk management frameworks and tools for major banks in the region. I am confident that his extensive expertise in payments and fraud risk management will help Aleta Planet to develop new strategies to combat ongoing threats such as money laundering and cybercrime.
“We look forward to working with Daniel as we continue to provide a safe and secure platform for customers and merchants to process digital payments.”
Mr Daniel Ang said: “I am thrilled to have the opportunity to lead the risk management team at Aleta Planet. The fintech industry is growing rapidly with the shift to digital payments during the pandemic, and I look forward to strengthening and executing risk management strategies to support the company as it continues to expand its presence and product offerings globally.”
According to UK-based Merchant Savvy, global losses from payment fraud tripled from US$9.84 billion in 2011 to US$32.39 billion in 2020.