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What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. Duties of FIs and PSPs FIs and PSPs must implement several anti-scam measures to prevent unauthorized access and detect phishing threats.

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Cyber Threats Surge in India’s Financial Sector

Fintech News

Attack vectors across the banking, financial services and insurance industry operations, Source: Digital Threat Report 2024, CERT-In, CSIRT-Fin and SISA Phishing attacks surge In H1 2024, cybersecurity firm Kaspersky recorded more than 135,000 phishing attacks targeting Indias financial sector.

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Securing Mobile Apps Against Malware and Phishing Attacks in Indonesia

Fintech News

While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose a significant threat to the integrity and security of financial platforms, jeopardising both user data and financial security. A 2023 report by Kaspersky found that 40.8%

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What You Need to Know About Singapore’s Most Common Payment Fraud

Fintech News

Phishing continues to be one of the most prevalent scams affecting both consumers and businesses. Even in a highly secure payment environment with the widespread adoption of multi-factor authentication (3DS), phishing remains a major concern. Below are the most common types of fraud found now.

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Singapore Sees Progress in Fight Against Phishing with Stronger Bank Safeguards

Fintech News

Singapore’s fight against phishing scams saw notable progress in 2023, with a reported 16% decrease in cases and a 14% reduction in financial losses compared to the previous year. MAS will continue to support national education campaigns to raise awareness about scam tactics and the importance of exercising caution.

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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. billion of unauthorised fraud was prevented in 2024, with banks continuing to strengthen their security systems and consumer education programs. million with 186,000 cases.

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Trust Bank Adds New Security Feature ‘Trust Lock’ to Combat Scams

Fintech News

Customers can create and lock up to five Savings Pots, which continue to earn interest and count toward Trust+ eligibility. The feature is designed to prevent unauthorised fund transfers, even in cases where scammers gain control of a customers mobile device through tactics like malware or phishing.

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