Association of Banks in Singapore
The Association of Banks in Singapore (ABS) is a non-profit organisation that represents the interests of the commercial and investment banking community. (Source: LinkedIn)
Singapore marks completion of transition to SORA
Singapore marks completion of transition to SORA
Over 87,000 retail loans were transitioned to the new benchmark rate.
ABS warns of rise in card phishing scams
Banks will roll out additional verification, the ABS said.
Singapore unveils BL checker for banks
Banks can automatically retrieve data points to verify if the Bill of Lading is genuine.
Singapore sees $2.1m lost in credit card fraud over three years
Card scheme operators have implemented the 3-D Secure protocol for added security.
NRIC numbers alone cannot initiate payments, fund transfers: ABS
ABS advised customers to change their login passwords if they are using their NRIC number.
Singapore needs layered strategy against fraud
Scam and cybercrime cases in the city-state rose 18% to 28,751 in the first half.
ABS, Singapore anti-ML group unveil new practice paper to enhance audits
Banks in Singapore are expected to review their audit practices against the paper.
Singaporean banks roll out face verification for digital token setup
It is expected to make it harder for scammers to take over a customer’s DT.
Singapore banks are phasing out OTPs for logins
Banks will instead use digital tokens to authenticate bank account login attempts.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access ‘locked’ money with a physical card or by visiting a branch.
Singapore now has S$3.2b in funds ‘locked’ to prevent scams: ABS
Around 38,000 accounts now make use of local banks’ money lock feature.
Trust for Singapore banks rises for second consecutive year: study
The index rose to 70 points, indicating high trust in banks.
Singapore unveils industry guidelines for sustainable private banking
The industry group sustainability taskforce has also developed a training benchmark.
MAS unveils new measures against digital banking scams
Default transaction limit for online fund transfers must be set to S$5,000 or lower.
6 in 10 Singaporeans have high trust in banks
Only 5% have low trust in the banking industry.
Eight Singapore banks to participate in new eGIRO launch
The digitisation initiative aims to cut down the old GIRO process from weeks to minutes.
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