RegStream

Media Release NRIC numbers alone cannot be used to effect payment and fund transfers Singapore, 19 December 2024 – The Association of Banks in Singapore (ABS) assures consumer banking customers that NRIC numbers alone cannot be used to effect payment and fund transfers. Banks apply multi factor authentication at login for online financial services and there is an additional layer of control to authorise higher risk activities[1] after login. NRIC numbers serve important functi...

FOR IMMEDIATE RELEASE JOINT MEDIA RELEASE MAS and ABS Announce Launch of Electronic Deferred Payment Solutions in Mid- 2025 and Extension of Deadline for Cessation of Corporate Cheques • New Electronic Deferred Payment (EDP) solutions to be launched in mid-2025 to support transition to e-payments • Deadline to cease processing of corporate cheques extended by one year to end- 2026 • Retail cheques, cashier’s orders and USD cheques continue to be available Singapore, 5 December 202...

Media Release ABS launches anti-scam mascot Canny to continue fight against scams Canny is a visual alert to remind consumers to be on guard against scams Singapore, 6 November 2024 – The Association of Banks in Singapore (ABS) has launched Canny, the anti-scam mascot, to support member banks’ fight against scams. Canny will serve as a common visual cue for the banking industry to prompt families, especially children and youth, to be alert against fraud. Member banks will prog...

Media statement by the Association of Banks in Singapore on Shared Responsibility Framework Singapore, 24 October 2024 - To be attributed to Mrs Ong-Ang Ai Boon, Director, The Association of Banks in Singapore To keep pace with a constantly-evolving scam landscape, key players in the whole ecosystem, which include government agencies and financial institutions, continue to collaborate closely to build a robust system against scams. Over the last two years, the banking indu...

Media Release Singapore’s first best practice paper on enhancing anti-money laundering audit in banks launched by ABS and industry group SINGAPORE, 21 October 2024 – Singapore’s first industry-led best practice paper to enhance Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) audits in banks was launched today by The Association of Banks in Singapore (ABS), in partnership with the Anti-Money Laundering Audit Peer Group (AAPG)1. Developed by the AAP...

JOINT MEDIA RELEASE Business Continuity Exercise to Bolster Singapore Financial Sector’s Operational Resilience Singapore, 15 October 2024…The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) jointly conducted today a business continuity exercise with financial institutions to strengthen the financial sector’s crisis management and operational resilience. 2 Codenamed “Exercise Raffles”, this seventh edition of the exercise inc...

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The Office of the Privacy Commissioner for Personal Data (PCPD) today reported on its work in 2024 and published the investigation findings of the data breach incident of Oxfam Hong Kong (Oxfam). Complaint Cases In 2024, the PCPD received 3,431 complaints, which represented a slight decrease of 4% when compared to 3,582 cases in 2023. Of these complaint cases, nearly 90% involved complaints against private organisations or individuals (3,101 cases), while the re...

WASHINGTON, D. C. — Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced CFTC leadership changes: “I’m pleased to announce CFTC leadership changes with the beginning of the new Administration, and I want to recognize and thank former Chairman Behnam and his staff, as well as Steve Adamske, Director, Office of Public Affairs; Clark Hutchison, Director, Division of Clearing and Risk; Ian McGinley, Director, Division of Enforcement; Vince McGonagle, Director, Divi...

Chancellor pledges to work with regulators to develop ambitious reforms. Today’s (16 January) summit marks the first in a series of meetings with the regulators ahead of publishing action plan. Reeves welcomes initial ideas from regulators to boost innovation and investment, but pushes for more ambition. In a meeting hosted by the Chancellor of the Exchequer and Secretary of State for Business and Trade, chief executives at watchdogs covering sectors including railways, water, ene...