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OCBC Bank is set to offer Generation Alpha—children born after 2009—their own digital bank accounts through the OCBC MyOwn Account , available from 20 October 2024. This first-of-its-kind account in Singapore allows children aged seven to 15 to manage their finances digitally via the OCBC Digital app, under parental supervision.
Recently banks have hit the headlines both for failing to detect money laundering and for freezing the accounts of legitimate customers when money laundering is suspected. Whether you’re freezingaccounts because you wrongly suspect money laundering or missing real cases of financial crime, it’s all a matter of accuracy.
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