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NZ Herald
3 hours ago
- NZ Herald
Kiwi crime-fighting software firm Auror gets big tick from UK Govt, medtech Formus Labs nears commercial launch in the US
Cooper said she wanted more UK retailers to use Auror's software, which aims to make it easier for retailers to report offences to police, including photos, and snippets of video taken on their cameras. The Home Secretary is urging police to make greater use of facial recognition technology and is behind the bill, currently winding its way through the UK Parliament. The controversial bill makes it an offence to conceal your identity from CCTV under certain circumstances (including protests), introduces the new offence of assaulting a retail worker and makes theft from a shop trial-able, regardless of the value of the goods (from a £200 [$450] threshold today). Stores including M&S, Morrisons, Boots, Tesco, Primark, and Greggs are submitting CCTV, photos and personal data on all their repeat shoplifters to Auror's platform, which is shared with police. Cooper endorsed the Kiwi software after receiving a briefing from Boots, according to the UK's Telegraph. Auror executives Mark Gleeson and Paul Fagg were invited to 10 Downing St last month - UK Prime Minister Keir Starmer's residence - for what the Herald understands was a meeting with officials. Photo / LinkedIn Additionally, two Auror executives were recently invited to 10 Downing Street: UK and Europe vice president Mark Gleeson (a former tactical commander with the Royal Air Force) and UK director of law enforcement and partnerships Paul Fagg (who began his career as a police constable for London's Metro Police and rose to become a police inspector with the National Business Crime Centre before joining Auror last year). Fagg said his firm's crime intelligence platform enabled retailers to record everything that happens in their stores to tackle the 'huge under-reporting issue'. 'Police have access to Auror so that incidents they did not see before are now visible for them,' he said, adding that this enabled police and retailers to identify prolific offenders with CCTV and photographic evidence. Auror uses templates to speed up and standardise retail crime reporting. The shared data enables all the stores and police to 'join the dots' to identify prolific offenders, gather evidence for prosecutions and provide security staff on the shop doors with photo watchlists to bar entry, Fagg said. Auror says its system is used by 98% of retailers in NZ and 75% in Australia. In November last year, the Kiwi firm raised $82m at a $500m valuation, with the funds earmarked, in part, for a push to further expand in the US. Phil Thomson hadn't worked in retail or software before cofounding Auror. He worked for a big law firm, specialising in intellectual property and privacy issues. The raise was led by two new investors: Axon Enterprise (formerly Taser International) and W23, a venture fund backed by five retailers including Tesco and Woolworths. Nasdaq-listed Axon – which has a US$70 billion ($115b) market cap – invented the Taser in the 1970s. In the 2000s it expanded into bodycams, then computer-aided dispatch software and a cloud-based digital evidence platform. The firm was already an Auror technology partner. Going harder with Taser maker in the US On June 4, Axon and Auror announced a new Retail Crime Hub, which they billed as 'unlocking a more efficient way for North American law enforcement agencies to collaborate with retailers and stop crime in our communities'. Auror already had a substantial beachhead in the US through anchor customer Walmart, founder Phil Thomson said. Thomson says the issue goes well beyond shoplifting: "Retail crime isn't victimless - it's violence, it's assault, and it's organised". The new Retail Crime Hub should help it extend its reach. Thomson said a key issue was that while NZ has a single law enforcement authority (the police) dealing with retail crime, in the US it varied not just by state but by locality with some 18,000 agencies at the country level. Auror is pitched as a conduit to link them together for intel on retail crimes that fly well under the radar of national enforcement agencies. The privacy debate The fast-growing Auror has drawn a degree of privacy flak on both sides of the Tasman with a system that uses digital images which can misidentify people. But the firm has kept its nose clean with our Privacy Commissioner. Thomson emphasises that Auror doesn't operate any security cameras and does not offer live facial recognition. Privacy Commissioner Michael Webster recently gave facial recognition trials by our two major supermarket chains his cautious tick of approval. And Justice Minister Paul Goldsmith says the option of having a centralised system of facial recognition is something he expects officials to consider. 'We [Auror] acknowledge the calls from groups like Retail NZ, the UK Home Secretary, and NZ Government, for the use of technology such as facial recognition technology [FRT] in the retail sector,' Thomson told Tech Insider earlier today. 'We support the responsible use of FRT by retailers to protect workers, shoppers and communities from violence and harm.' Thomson knows the legal and philosophical ins-and-outs (he's a former intellectual property lawyer with Simpson Grierson and an ex-board member of the public-interest focused NZ Council of Legal Education). But he says his support for FRT is based on what's happening every day in the real world. 'With retail violence continuing to rise, it's a no-brainer for retailers to explore how this technology [FRT] can be responsibly used in their stores. It's already used in everyday environments such as airports, hotels and casinos,' he says. 'Due to the increase in violence and crime in stores, in my view, it's now not a matter of 'if' or 'when' - it's about 'how' this can be deployed in the best way possible, protecting communities while also protecting privacy. 'Retail crime isn't victimless - it's violence, it's assault, and it's organised. We know one in 10 events involve violence or use of a weapon. Ten % of top repeat offenders are responsible for more than 60% of the crime in Kiwi stores. Furthermore, repeat offenders are up to four times more likely to be violent.' Hip to be AI: Formus Labs poised for US commercial launch Formus Labs' AI-powered, 3D planning software for joint replacement surgeries. Photo / Supplied Auckland-based med-tech Formus Labs will commercially launch in the key US market in a couple of months, founder and chief executive Dr Ju Zhang says. The launch follows the start-up gaining US Food and Drug Administration approval in December for its AI-powered, 3D software for planning orthopaedic surgeries - specifically hip replacements, with its FDA green light. Formus is lining up deals with the likes of hospital chains and insurance firms. Zhang says his firm has pilots already under way with several 'tier one' and 'tier two' players - with revenue above US$1 billion ($1.65b) or in the hundreds of millions, respectively. Formus Labs founder Dr Ju Zhang. Photo/Supplied The start-up already has a close relationship with one of the biggest names in the field - Indiana-based Zimmer Biomet, which invested US$5m ($8.25m) in the Kiwi firm in early 2022 (the round was also supported by existing local investors including Icehouse Ventures, Pacific Channel, Punakaiki Fund and Global From Day 1). Zhang says with major commercial revenue just months away, there are no plans for another sizeable raise, though it's possible Formus will stage a small round for bridging. The FDA approval was a breakthrough moment as many regulators around the world take their lead from the US agency, Zhang says. Japan - a major market for partner Zimmer - will be next cab-off-the-rank for the multi-Hi-Tech Awards winner. Members of the Formus Labs team, still based in NZ as the firm pushes into the US and Japan. Australia is also a major market. Zhang says Formus consults closely with several orthopaedic surgeons in NZ but commercial maths means the primary focus has been across the Tasman and in North America. Regardless, he and his crew of 16 staff are based in Auckland, which he anticipated will remain the hub of the firm's R&D. There's a lot that's high-tech about joint replacement surgery these days. But there's also a lot of drilling, scraping, sawing and hammering. 'In some ways, it's a lot like carpentry,' Zhang says. Formus Lab's software helps a surgeon more quickly and accurately prepare, and pick the right size joint replacement from what can run into hundreds of options. Currently one in 10 operations have to be redone and five out of 10 have some degree of post-op complication. Medtech on the rise At a HealthTech Week event in Auckland last week, the audience heard that New Zealand's MedTech sector currently generates around $2.6b in annual revenue and is projected to reach $3.8b by 2028, a compound annual growth rate of 7.8% since 2018, according to Technology Investment Network, TIN200 stats. 'It's still dominated by the big fish; the likes of F&P Healthcare,' Callaghan Innovation HealthTech head Andrew Clews told Tech Insider. 'But there is a second tier of companies coming through now that we're supporting.' Clews says venture capital money is coming on board and the number of start-ups is increasing - thanks in part to a tight-knit ecosystem. Formus Labs is one of several medtechs spun out of Auckland University's Bioengineering Institute, for example, he said. Others include Kitea Health, the maker of a world-first wireless implant for measuring brain pressure, Toku Eyes and Alimetry. The event was arranged by Te Tītoki Mataora, funded by Auckland University and MBIE and Callaghan Innovation's HealthTech Activator. Both programmes offer various forms of support for medtech start-ups, although Callaghan Innovation is being disestablished. With most staff already laid off, the HealthTech Activator has funding to last through until a new advanced research agency is created around this time next year. Chris Keall is an Auckland-based member of the Herald's business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.
1News
5 hours ago
- 1News
Kiwi creator on why he turned down huge offers to plug online gambling
A New Zealand content creator is speaking out about the harms of gambling after revealing he was offered more than $500,000 to promote offshore gambling websites. Louis Davis is a Kiwi content creator with a following of over 3 million across all platforms, and has taken to his social media platforms to warn others about the risks. Speaking with Breakfast this morning, Davis said he received the promotional offers in his email inbox. "We get hammered with emails every day, they're pretty consistent," he said. When asked on why he decided to turn down the offer, he said that gambling promotions are causing real harm in communities and were encouraging addictive behaviour. ADVERTISEMENT 'We are living in an age now where you can gamble in your car, on the toilet, or at work. The morning's headlines in 90 seconds, including deadly Texas floods, Australian woman attacked by a lion, and Elon Musk's new political party. (Source: 1News) 'There used to be a time and a place for it, but now because of our phones we have access 24/7 to it. 'If they're offering me over $500,000 to ask you to gamble, imagine how much they're stealing from you.' Data from the Department of Internal Affairs showed that in 2022/23, New Zealanders lost $2.76 billion gambling on the four regulated gambling sectors - Lotto New Zealand, TAB NZ, casinos and class 4 gambling (pokies). Growing up in Northland, Davis said he witnessed the impacts of gambling firsthand. "I see the harm of this in my communities, and what it takes from us." he told Breakfast. ADVERTISEMENT "There's a reason they give money to people that look like me. They're going after my community." Davis said he would love to see changes around the rules of advertising, so people don't continue to be tempted by offers from gambling companies. "People get put in this real hard position, where it's undeniable life-changing money. I almost have empathy for people who have to make that decision," "I'd love to see changes made to that system; I don't want it to be a decision people have to make." DIA has been cracking down on the promotion of offshore gambling, sending cease-and-desist letters to some influencers, and monitoring other accounts. Millie Elder-Holmers was recently fined $5000 for promoting online gambling. Under the Gambling Act it is illegal to publish an advertisement for an offshore gambling operator.
1News
5 hours ago
- 1News
Changes to make it easier to open a bank account for kids
The Government has revealed "common sense" changes to anti-money laundering laws to slash paperwork for small businesses and to make it easier for children to open bank accounts, the Acting Prime Minister says. David Seymour said the changes to anti-money laundering laws would "remove a lot of the insanity so that ordinary people, including parents who want their children to bank, can actually have a bit of relief". "We want young people to learn about the benefits of saving and investing and planning for the future," he said to Breakfast this morning. The ACT leader said families were being discouraged from opening accounts for young people because the paperwork was too cumbersome, calling it "the most un-Kiwi thing" that needed fixing. Under current anti-money laundering rules introduced in 2011, parents must provide documentation including photo IDs, birth certificates, proof of address, and evidence of their financial relationship with their child when opening accounts. ADVERTISEMENT In a statement this afternoon, Associate Justice Minister Nicole McKee said under the Government's new reforms, banks would be allowed to apply a simplified process when the risk is low. Associate justice Minister Nicole McKee. (Source: 'This means that if a bank puts measures in place to make a child's bank account low-risk (e.g.) by setting appropriate transaction limits) all that could be required is a birth certificate to confirm the child's name and date of birth, and prove the relationship to the parents.' McKee said they could also skip the 'intrusive and unnecessary questions' about the 'nature and purpose' of the account – and reduce or forego ongoing monitoring of a child's banking activity until they turn 18 or the account settings are changed. The Government has also directed the future Anti-Money Laundering and Countering Financing of Terrorism supervisor to issue clear guidance, so businesses like banks know exactly how to apply the simplified checks without fear of penalty. The ACT party had previously campaigned on reducing business compliance costs with anti-money laundering and terrorism financing laws. At the last election, ACT said small businesses needed a more "risk-based approach" that was "less punitive." McKee announced reform of the laws last October. ADVERTISEMENT Seymour also said this morning upcoming AML/CFT changes would include "a whole lot for business". "If you're, for example, engaged in property transactions, or you're a lawyer, or whatever. We're going to be simplifying the amount of customer due diligence there. We're going to be moving to just a single supervisor," he said. GST was very effective as a tool for the government to readily raise a large amount of money. (Source: "We have to show that we're doing our bit to fight money laundering and terrorism. We've got our own problems with organised crime in New Zealand — we have to keep on them. "But we also need to remove a lot of the insanity so that ordinary people … can actually have a bit of relief." Seymour said the reforms would help benefit small businesses and professional services, allowing New Zealanders to spend "less time dealing with red tape". "It's going to be small business. It's going to be people in the professional services who have to do a lot of this stuff, because they manage transactions, lawyers, accountants and so on." ADVERTISEMENT The morning's headlines in 90 seconds, including deadly Texas floods, Australian woman attacked by a lion, and Elon Musk's new political party. (Source: 1News) McKee said in her announcement last year that the changes would make complying with the law more "user-friendly for small businesses". "I have heard from countless New Zealanders that the current regulations are unnecessarily risk-averse, resulting in complicated, repetitive processes. Simple tasks shouldn't be made confusing and difficult to complete," she said. "I'm taking a pragmatic approach to this work, by prioritising changes that will deliver significant regulatory relief to businesses while also reducing the harm caused by money laundering in our communities. "In fact, these reforms will deliver the most significant regulatory relief since the Anti-Money Laundering and Countering Financing of Terrorism Act came into force in 2013."
