Tag "Association of Banks in Singapore (ABS)"

Singapore Banks Foiled Scams Worth S$57.6 Million in 9 Months This Year, Says ABS

Singapore banks have prevented and recovered over S$57.6 million in scams in the first nine months of 2023, thanks to enhanced security measures implemented by major retail banks, according to the Association of Banks in Singapore (ABS). This was achieved

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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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ABS Rolls Out Trade Finance Registry to Eliminate Duplicate Transactions

The Association of Banks in Singapore (ABS) has launched the Trade Finance Registry (TFR) to ensure there will be no duplication of trade financing transactions, according to a report by The Edge Singapore. Chaired by UOB, the TFR is supported

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Trust in Singapore Banks Continues to Be on the Rise, Says ABS Survey

A survey conducted by Edelman Data and Intelligence has found that trust in the Singapore banking industry has increased for a second straight year since 2020. The third annual Banking Trust Index for Singapore (BTIS) survey was commissioned by the

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Emergency “Kill Switch” Among Security Measures Pushed by MAS to Combat Fraud

An emergency self-service “kill switch” to suspend their bank accounts quickly if it has been compromised are among the additional measures that are being pushed by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS).

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MAS and ABS to Ramp up Digital Banking Security in the Face of Phishing Scams

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) are introducing a set of additional measures to bolster the security of digital banking. The regulator has taken a proactive stance in response to the recent

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MAS and ABS Urges Financial Institutions to Manage Emerging Risks of Remote Working

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) jointly issued a paper on managing new risks that could emerge from extensive remote working arrangements adopted by financial institutions (FIs) amid the COVID-19 pandemic. The “Risk

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ABS: Banks Are Ready to Support Landlords Affected by Rent Relief Measures

In a statement issued by the Association of Banks Singapore, the association reiterated that banks in Singapore are ready to support landlords who are facing income constrains and cashflow issues from the rental relief measures under the proposed COVID-19 (Temporary

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PayNow QR is The Latest to Adopt SGQR, Singapore’s Unified Payment QR Code

The Association of Banks in Singapore (ABS)  announced yesterday that PayNow QR will adopt the Singapore Quick Response Code (SGQR) specifications, enabling businesses to collect payments via PayNow through the national unified payment QR code, SGQR. The adoption of the

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