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...

28 January 2025Credit standards tightened for firms in the fourth quarter of 2024, driven by higher perceived risks and lower risk toleranceCredit standards remained unchanged for loans to households for house purchase but continued to tighten for consumer credit Housing loan demand continued to rebound strongly, while demand for firm loans remained weak According to the January 2025 bank lending survey (BLS), euro area banks reported a renewed net tightening of credit standards – banks’ interna...

Encuesta de Préstamos Bancarios

Prime Minister and Chancellor to tell leading CEOs that Britain is back and open for business. Changes to pension rules will allow trapped surplus funds to be invested in the wider economy, fuelling economic growth. Move is part of government action to remove blockages that are stopping growth - from regulation to planning processes. Working people and businesses are set to benefit from new rules that will give more flexibility over how occupational defined benefit pension schemes...

According to statistics published today (28 January) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0. 9% in December 2024. Among the total, Hong Kong dollar deposits and foreign currency deposits both increased by 0. 9% in December. For 2024 as a whole, total deposits and Hong Kong dollar deposits grew by 7. 1% and 2. 8% respectively. Renminbi deposits in Hong Kong decreased by 6. 6% in December to RMB926. 6 billion at the end of December, ...