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Singapore Reports S$1.2 Million in Losses from Phishing Scams Targeting Mobile Wallets

Fintech News

Singapore authorities and banks are ramping up efforts to tackle a growing scam where fraudsters steal card details through phishing and trick victims into providing an OTP. To complete this, they trick victims into entering an SMS OTP on the phishing site, granting them full control over the stolen card.

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

Fintech News

Singapores digital bank, Trust Bank , has introduced a new security feature called Trust Lock , designed to provide users with an added layer of protection against scams. billion reported lost to scams in Singapore last year. The launch comes amid rising concerns over financial fraud, with at least S$1.1

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Visa Sets Up Scam Disruption Team, Blocking US$350 Million in Fraud

Fintech News

Payments giant Visa has established a specialised Scam Disruption practice to tackle emerging fraud schemes and protect consumers. The newly formalised group operates under Visa’s Payment Ecosystem Risk and Control (PERC) division and prevented more than US$350 million in attempted scams in 2024.

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Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector

The Payments Association

Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector January 3 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? An examination of authorised push payments (APP) scams in 2023, their impact on victims, and the platforms most exploited. Why is it important?

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Unveiling digital fraud: A deep dive into scam trends and crime prevention in the UK payment sector

The Payments Association

Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector January 3 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? An examination of authorised push payments (APP) scams in 2023, their impact on victims, and the platforms most exploited. Why is it important?

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DBS Introduces Mobile Wallet Toggle to Help Prevent Phishing-Linked Fraud

Fintech News

DBS also works with authorities and community groups to promote scam awareness. In 2024, it held over 300 digital literacy and anti-scam workshops, reaching 90,000 people. Its Bank Safely Hub and ongoing roadshows support public education efforts.

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Data: The new face of phishing

Payments Source

Today phishing scams have become so elaborate that they can take a variety of forms, including a phony job interview.

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