A circular to banks from the central bank said consumers should not have to bear full financial losses of any fraudulent transactions unless they had

[gravity_infinity]

been grossly neligent.

https://www.todayonline.com/singapo...-security-bank-customers-risk-experts-1789236

Experts said the convenience of online banking should not necessarily compromise security, and vice versa
A circular to banks from the central bank said consumers should not have to bear full financial losses of any fraudulent transactions unless they had been grossly negligent
The banks have a role to safeguard customers' funds by using the best cybersecurity strategy, but customers have to level up as well
Only 4 per cent of Singaporeans are able to identify phishing attempts, a 2020 poll showed
Some cybersecurity experts highlight a weakness in relying on SMS for two-factor authentication

 

[gravity_infinity]

means those who loss monies got hope?

 

[straweffigy]

means those who loss monies got hope?

So far no verdict is passed yet
Maybe still got chance

 

[min0ri]

It’s a circular nia, not a notice.

 

[Tony.Manero]

Raising of transfer limits should've time delay as is transferring out of country

 

[gravity_infinity]

really sympathise with those kena this

 

[Zinna]

Waiting MAS and Minister for cyber security to come out and say something soon

 

[lifeafter41]

Perhaps fund transferred out of country will need to wait for 1 day to be effective.

Interbank within Singapore, immediate.

 

[kangzhengxing]

banks using SMS which is close to 30 years technology...
so who is grossly negligent?

 

[tanakow]

been grossly neligent.

https://www.todayonline.com/singapo...-security-bank-customers-risk-experts-1789236

Experts said the convenience of online banking should not necessarily compromise security, and vice versa
A circular to banks from the central bank said consumers should not have to bear full financial losses of any fraudulent transactions unless they had been grossly negligent
The banks have a role to safeguard customers' funds by using the best cybersecurity strategy, but customers have to level up as well
Only 4 per cent of Singaporeans are able to identify phishing attempts, a 2020 poll showed
Some cybersecurity experts highlight a weakness in relying on SMS for two-factor authentication

Does clicking in the url amount to gross negligence? Does keying in userid/password/OTP after clinking the url amount to gross negligence?

I would think yes.

if need to pay , then MAS should be paying as it did not provide proper governance of the banks .

 

[boredom2012]

Banks just ignore this. No power.

 

[IndianChief]

Bet they must be regretting issuing this circular.

 

[Newtype_com]

Wait for election year, bring up this topic again

Sure all bark bark together with white dogs

All the vaccination cock up and discrimination forgotten

 

[Kunkka]

We are pro business .

 

[limpeh456]

fat hope.
seeing Pappies see lang pattern, always side big boy, bullied peasant lumber wan
if today is ***** Jinx fund tio scam, tomorrow they will cum out Pofma version 2

 

[waterdestiny]

Should make it that increasing of transfer limit take 5 working days unless the customer visit bank in person, overseas transfer should take 2 working days if amount is more than 10k

 

[tokiya]

Waiting MAS and Minister for cyber security to come out and say something soon

Paging for Jo Teo who is our smart nation minister to fix this problem.

I have full confidence in her technical expertise in cyber security and digital banking.

 

[aabbccddeeffgg]

I believe OCBC will extend a goodwill gesture and reinstate 20% to 50% of the funds to the affected customers. Likely this will happen instead of completely ignoring it.

 

[mechagnome]

you all read what the article said? "However, an ongoing review by the authorities on the responsibilities and liabilities ... " ... hello lxx jxxx understand? in order for any bank to do this stupid OTP thing the MAS must approve, before approve, what tests had they done to ensure it is "scam proof"? im sure MAS know it is a trade off so they cannot say it is the user fault. becos they are simply asking to get ****** by scammers. now they come out and try to tai ji the "error" they made away

remember HDB BCA modified the lift safety std? people died ... then how? suddenly the safety measures come back

MIW gian lui, LHL hype up the stupid smart nation ... now give stupid excuse

 

[mp4005 help]

clicking on links is neligience right ?

at work , if you are trader and anyhow click ? how?

actually cashier job anyhow click how ?

send email to wrong people ?

data entry mistake?