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...

Chancellor reveals new plans for more houses near commuter train stations to kick start economic growth, as government continues its bold reform of the planning system to deliver on the Plan for Change for working people. Sweeping reforms under the Planning and Infrastructure Bill will take an axe to red tape that slows down approval of infrastructure projects and the government will work with Parliamentarians to ensure a smooth and speedy delivery. Chancellor highlights in its first ...

PRESS RELEASE | JANUARY 24, 2025 FDIC Approves Merger Application for WesBanco Bank, Inc., Wheeling, West Virginia WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) approved a Bank Merger Act (BMA) application submitted by WesBanco Bank, Inc., Wheeling, West Virginia, to acquire and m...

Chancellor of the Exchequer Rachel Reeves has today confirmed that David Soanes and Niamh Moloney will join the Prudential Regulation Committee (PRC). They will both serve three-year terms on the Committee, which takes the most important decisions of the Prudential Regulation Authority (PRA), one of the UK’s financial regulators. They replace Jill May and Julia Black who completed their second terms in July 2024 and November 2024 respectively. David Soanes has been a career investment bank...

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