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 needs layered strategy against fraud

Singapore needs layered strategy against fraud

Scam and cybercrime cases in the city-state rose 18% to 28,751 in the first half.
2 days ago

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.