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Singapore News - Telcos here blocked about 180 million suspected scam calls in the first six months of 2023. And more than 3,700 mobile lines, believed to be used by scammers, were flagged by the police to telcos for termination during the same period. Minister of State for Home... Read more at www.tnp.sg
With the “waterfall approach” taken under a proposed Shared Responsibility Framework (SRF) for phishing scams, only if a bank and telco fully discharge their stipulated duties will the customer at the “bottom” have to bear the loss. Besides assigning accountability for scam losses, this approach also incentivis
The regulator has “leaned on the banks to be even more accommodative” in these payments, Mr Alvin Tan said Read more at straitstimes.com.
Traditional SMS messages lack encryption and are inherently insecure, and can be spoofed by scammers. Read more at straitstimes.com.
Consumers should switch to push notifications instead of SMS alerts for digital banking because they are safer and more secure, experts told The Straits Times.