The Monetary Authority of Singapore has said over 181,000 customers have used the “money lock” security option as of Oct 31. It was introduced last year and is currently offered by DBS, OCBC, UOB, Citibank, HSBC, Maybank and Standard Chartered Bank.
Tag: Singapore Banks
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.
Singapore banks to gradually replace OTP with digital token for login
This will better protect them against phishing scams, which were among the top five scam types last year, with at least SGD 14.2 million lost to these scams, as per the Singapore Police Force Annual Scams and Cybercrime Brief 2023.
