Security
Staying Ahead in Asia Pacific’s Fraud Prevention Game
In the midst of a digital revolution sweeping through Asia Pacific, the region finds itself on the cusp of profound change. While this technological wave has brought unprecedented convenience and connectivity, it has also unfurled a shadowy side – a
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Banks Should Not Be Expected to Bear Full Burden of Scam Losses, Says Alvin Tan
Alvin Tan, Minister of State at the Ministry of Trade and Industry, shot down the proposal for banks to bear full responsibility for scam losses in his response to the Motion on “Losses from Scams and Malware Fraud: Doing Right
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S’pore Banks Stepped up Security Measures to Combat Malware Scams, Says ABS
Major retail banks in Singapore have stepped up their security measures to protect customers from malware scams, the Association of Banks in Singapore (ABS) announced on Monday. The banks have designed and implemented the anti-malware security measures suited for their
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OCBC’s Anti-Malware Feature Foiled All Scam Attempts Since August Launch
OCBC’s anti-malware security feature has prevented scammers from stealing more than S$2 million from more than 30 customers in the first month since its launch on 5 August 2023. The bank received reports from these customers that their Android mobile
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ASEAN’s Fintech Sector Attracts US$5.7Billion; Singapore Leads
Fintech innovation has driven economic growth, revolutionising financial services and bringing new solutions to meet evolving needs. Amid global uncertainties and challenges surrounding trust, security, and regulatory clarity, Singapore has emerged as a leading fintech hub in Southeast Asia. A
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Digital Identity is Key to Understanding (and Overcoming) Fraud Attacks
In 2022, digital fraud experienced a significant increase compared to 2021, with the global attack rate escalating by 20% year-on-year. This escalation continues to reflect the early indications observed in 2021 as more and more economies resumed normal operations following
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Dynamic Data Streamlines Customer Experience, Fights Fraud in Digital Banking
As the digital economy continues to surge and expand, consumer expectations for fast, secure access to products and services seem never-ending. Furthermore, when it comes to financial services, there is an entire generation of consumers cropping up who have barely
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Cyber Defense is Crucial: Protecting Financial Systems from Modern Attacks
Money and crime have coexisted forever. Robbing a bank is the ultimate staple for robberies since it always makes headlines. Hollywood has made bank heists popular, but that’s not what the financial sector needs to be afraid of. Money is
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Mastercard Expands Partnership With Vesta to Secure E-Commerce Transactions
Mastercard has expanded its partnership with end-to-end payment fraud protection platform Vesta in a bid to protect e-commerce transactions from fraud. The payments firm will be integrating Vesta’s Payment Guarantee™ and Payment Protect risk scoring solution into its Mastercard Payment
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Singapore Passes MAS’ Bill on ‘COSMIC’ to Gather Info on “Red Flag” Customers
The Singapore parliament has passed the Monetary Authority of Singapore’s (MAS) bill to establish the COSMIC platform. COSMIC is a secure digital platform for financial institutions to share with one another, information on customers who exhibit multiple “red flags” that
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