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RETAIL BANKING | Staff Reporter, Singapore

Singapore urges caution against intensified phishing attempts

Some emails are claiming to come from the central bank itself.

The Monetary Authority of Singapore (MAS) is urging banking customers to exercise caution amidst increasing number of reported phishing attempts over the past week.

A number of messages purportedly circulated by banks have been asking customers to update sensitive personal information, with a few messages claiming the authority of MAS.

Often done via spoofed emails, phishing aims to obtain personal particulars like banking account details, PIN, credit card numbers, one-time passwords to perform unauthorised banking transactions.

“MAS also expects all financial institutions (FIs) to take action to protect their customers,” the de facto central bank said in a press release. “They should promptly alert their customers of any phishing activity and remove phishing websites that target their customers.”

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