A March 14 media release said: “The Singapore Police Force and Monetary Authority of Singapore (MAS) would like to alert members of the public to scams involving impersonation of MAS officials, representatives from NTUC Union, Income Insurance and Unionpay staff. Since January 2025, at least 6 cases have been reported to the Police, with total losses amounting to at least SGD 1.7million.”
Tag: Monetary Authority of Singapore
MAS slaps penalty of SGD 2.4 million on JPMorgan Chase Bank for misconduct by relationship managers in 24 bond transactions
In 24 over-the-counter bond transactions, the RMs had made inaccurate or incomplete disclosures to clients, resulting in the clients being charged spreads that were above the bilaterally agreed rates. These transactions took place between November 2018 and September 2019, said MAS.
Be careful with your cash: Amid geopolitical tensions, MAS advises Singapore to be ready for volatility
In its analysis of the ‘Global Macrofinancial Environment’, the central bank of Singapore said that while global economic activity “has remained resilient”, there was still a risk because of “heightened policy uncertainty, trade tensions, and geopolitical conflicts that increase the probability of adverse shocks”.
MAS announces finalists for 2024 Global FinTech Hackcelerator and FinTech Excellence Awards
This year’s competition aims to advance the development of suitable financial products and tools that can improve financial health. This can be an important enabler to empower individuals and businesses to manage resources effectively to build financial resilience.
35 arrested in anti-scam sweep; Singapore Police and MAS issue urgent advisory on bank officer impersonation
The majority of those arrested in Singapore are suspected to have allowed scammers to use their bank accounts or netbanking credentials to be used for fraudulent transactions.
Singapore: Banks to implement Singpass Face Verification to enhance protection against phishing scams
SFV will be triggered in higher risk scenarios to strengthen and complement existing authentication methods for DT setup.
