article thumbnail

What the MAS Annual Report Reveals About the Future of Fintech in Singapore

Fintech News

MAS then published an information paper sharing best practices on how financial institutions can manage and ensure proper oversight when developing, testing, and using GenAI and AI models. AI Oversight and Crypto Capital on MAS’ Radar MAS conducted a thematic review on how certain banks are managing risks tied to AI and GenAI.

article thumbnail

Crypto Scam Losses Exceeded $4Billion in 2024, Driven by Deepfake and AI Tech, Says Bitget

The Fintech Times

According to the new report, AI-powered scams have moved beyond phishing emails to include fake Zoom calls, synthetic videos of public figures, and Trojan-laced job offers. From phishing rings to fake staking dApps, the tactics may change, but the psychology is always the same,” added Lisa , security operations lead at SlowMist.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fraud in 2024: A Continued Threat to Financial Security

Neopay

APP fraud happens when a victim is manipulated into authorising a payment to a fraudster, often through impersonation or phishing. We provide engaging training programs that focus on practical, real-world scenarios, helping your team stay vigilant and equipped to identify suspicious activities. million with 186,000 cases.

article thumbnail

Navigating the AI Paradox in Banking: Strategies for Value Realization and Futureproofing

Finextra

Adopting established frameworks such as the NIST AI Risk Management Framework (NIST, 2023) or the OECD guidelines (OECD, 2021) provides a structured approach to institutionalizing best practices, ensuring scalability, compliance, and ultimately, enhanced customer trust.

AI
article thumbnail

52% of Firms Assign Operational Technology Cybersecurity to Executives

Fintech News

Organisations with higher OT security maturity show stronger resilience to threats such as phishing and more advanced techniques, including persistent attacks and OT-specific malware. The implementation of cybersecurity best practices continues to positively influence outcomes.

article thumbnail

How Family Offices Are Advancing Digital Security Standards

Finextra

Regularly scheduled workshops and practical sessions educate employees on recognizing phishing attempts, avoiding suspicious links, and creating strong passwords. These programs also cover best practices for handling sensitive data, such as using secure storage solutions and avoiding unsecured networks.

article thumbnail

Data Breaches 101: What They Are And How To Prevent Them

VISTA InfoSec

Best Practices For Prevention Ultimately, consistent vigilance and proactive security safeguards offer the best breach protections. Partner with cybersecurity experts and put proven best practices into action this quarter. Accidental data leaks by insiders mishandling information also trigger breaches frequently.