Fintech News

OCTOBER 27, 2024

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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Phishing Scams Blocks Authorization 133

Fintech News

JANUARY 14, 2024

No less than 219 customers of DBS Bank have reportedly been duped by sophisticated phishing scams in the first two weeks of 2024, resulting in a collective loss of approximately S$446,000 (US$335,000), Channel News Asia learned from a joint statement by the Singapore Police Force and DBS on Sunday (14 Jan).

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Phishing Scams Authorization Transaction Limits 109

Fintech News

NOVEMBER 12, 2024

In joint accounts, parents retain full control over account operations, while sole-name accounts for minors have stricter safeguards, such as lower daily transaction limits of S$50 to S$100, which parents can adjust. Such accounts aim to instill financial management skills in children while providing a controlled environment.

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Accounts Financial Literacy Transaction Limits Scams 105

PYMNTS

OCTOBER 16, 2018

Apple, nearly a week after it emerged that some Apple IDs were stolen in China, apologized for the hacking, saying in a statement that it found “a small number of our users’ accounts” had been accessed via a phishing scam, reported The Wall Street Journal.

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Phishing Breach Scams Transaction Limits 46

PYMNTS

MARCH 1, 2019

These fraudsters have since found a variety of other ways to take advantage of credit cards, such as skimmers and hacking attempts, phishing ploys, physical theft and more. FIs can enable them to set transaction limits for real-time payments, and send them in SMS alerts should transactions above those amounts be requested.

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Faster Payments Real Time Payments Security Message Standards 53

The Payments Association

OCTOBER 14, 2024

Click to explore key concerns with the PSR's APP fraud cap Click here to open infographic Additionally, she points out that the current limit is misaligned, as it is based on account balance rather than per-transaction limits, which she finds inappropriate.

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Caps Fraud Prevention Fraud Detection Scams 88

Payment Savvy

DECEMBER 11, 2023

They may have transaction limits Banks may impose transfer limits on the amount of money you can send via an ACH transfer. These limits can vary based on factors such as the type of transaction, destination of the transfer, and frequency. Here are a few factors to keep in mind: 1.

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ACH Wire Transfer Direct Deposit Wire 52