With MAS implementing the last phase of Basel III requirements from July 2024, local banks have installed strong controls and programmes to ensure compliance.
December 5, 2023‘Locked up’ funds will remain safe, even if the customer's mobile devices or bank account login credentials fall into the wrong hands.
November 28, 2023UOB acquired Citi’s consumer banking operations in Indonesia, Malaysia, Thailand, and Vietnam.
November 22, 2023Four new digital money trials will commence with industry players, and MAS will pilot the “live” issuance of wholesale CBDCs for the first time next year.
November 17, 2023The risk framework will enable FIs to use GenAI in a responsible manner, including by leveraging illustrative use cases to better understand its impacts.
November 16, 2023The ESG landscape needs orchestration and alignment with economic initiatives, discussed panellists at the Singapore FinTech Festival.
November 16, 2023Customers will receive alerts about payments and fund transfers through push notifications and e-mails, unless they specifically opt for SMS.
October 30, 2023Banks prevented more than S$57mn in scams in the first nine months of 2023, and are applying discretionary goodwill frameworks to cushion victims.
October 25, 2023The inspections will target banks whose clients were among those charged in Singapore's S$2.8bn money laundering case.
October 19, 2023The police are working with Meta to terminate WhatsApp lines believed to be used in scams and remove suspicious ads on Facebook and Instagram.
October 11, 2023