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Friday, October 25, 2013

Security company NQ Mobile responds to being called a "massive fraud"

Mobile security company NQ Mobile has been called “a massive fraud” by investment research business Muddy Waters.

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Not only does Muddy Waters claim that “at least 72% of NQ’s purported 2012 China security revenue is fictitious”, it also describes the NQ Antivirus 7.0 product as “unsafe for sale to consumers” and “spyware”.

In addition, Muddy Waters says “NQ’s acquisitions are highly likely to be corrupt” and “NQ’s cash balances are highly likely to not be real”.

NQ Mobile has issued a statement saying “the allegations and accusations set forth in the Muddy Waters report are false and inaccurate and contain numerous errors of facts, misleading speculations and malicious interpretations of events”. It’s also hosted a conference call to respond to specific points of the Muddy Waters report and has published details of its bank accounts, showing over $166 million and over ¥750 million in deposit accounts.

Legal action “to defend itself against these charges and to protect the interest of shareholders” is now being planned by NQ Mobile.

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Opinion Articles

Why a mobile TV service is just like a zombie

Mark Bridge writes:

Here in the UK, we’re struggling a bit with mobile TV. Which made me wonder what the problem really was. Well, after a long evening with the finest stilton and the cheapest port, the answer came to me in a dream. A mobile TV service is just like the lurching, drooling nightmare creatures that appear in every zombie film. And once consumers understand zombies, they’ll understand the problems with mobile TV. Let me explain.

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Selling your way out of a recession? Of course you can!

Iain Graham writes:

Everybody these days (apart from a lucky few!) is suffering from a lack of business or reduced sales due to the current 'downturn in the economic climate'. In my opinion, this is the time when sales people should stand up and be counted!

No, I don't mean the hard nosed, foot in the door double-glazing, second-hand car or mobile phone types (no offence!), I mean EVERYONE! Selling is a concept as much as it is a profession.

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Mobile & Contactless Payments

James Rosewell offers his opinion on the current state of mobile and contactless payments.

The banking and mobile industries have big plans for Near Field Communication (NFC) as the mobile payment mechanism of the future. Barclaycard has been leading the way from the credit card sector forming a partnership with Orange, having previously worked with O2, and running a catchy TV advert prompting contactless cards using VISA’s paywave system.

However the reality of NFC payments appears a lot further away. The Point of Sale (POS) technology appears to be badly deployed by some of the first-phase retailers mainly made up of low-value high-volume businesses like coffee shops, fast food outlets and newsagents.

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Insecure Mobile Browsers

James Rosewell writes: I note with interest Barclays mobile on-line banking home page extolling the safety of mobile banking whilst claiming it’s as secure as their non-mobile equivalent. This is on the same page that recommends customers use Opera Mini to access Barclays mobile on-line banking.

Yet following the link to the operamini.com web site and looking at the help section we can read Opera’s answer to the question “Is there any end-to-end security between my handset and — for example — paypal.com or my bank?” and the answer is “No. If you need full end-to-end encryption, you should use a full Web browser such as Opera Mobile.”

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