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Singapore Banks Bolster Cybersecurity to Protect Customers from Rising Threats

Fraud, Bribery & CorruptionSingapore Banks Bolster Cybersecurity to Protect Customers from Rising Threats

The Association of Banks in Singapore (ABS) has announced that major retail banks in the country have enhanced their security measures to address the increasingly complex cyber-threat environment. These measures are aimed at protecting customers and detecting malware on their devices.

Singapore’s banks have designed and implemented anti-malware security measures tailored to their customer base and systems. They will continue to introduce new measures to adapt to changes in the evolving threat landscape. These anti-malware security measures on banking apps are not meant to conduct surveillance on devices but are intended to block access to banking apps and notify customers if suspicious activity is detected.

As cyber threats become more sophisticated, financial institutions globally are increasing their cybersecurity efforts to protect customers and maintain the integrity of their services. Customer awareness and collaboration between banks, regulatory authorities, and law enforcement agencies are crucial in combating cyber threats effectively.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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