Singapore banks to implement new scam safeguards on all digital transactions from Oct 15


Customers may experience delays in digital payments and transfers, including for legitimate transactions. - OCBC BANK

SINGAPORE: Major retail banks here will put in place new safeguards on all digital transactions from Oct 15 to further protect customers from scams.

Customers of DBS Bank, OCBC Bank, UOB, Citibank, HSBC, Maybank and Standard Chartered should expect more of their transactions to be held for 24 hours, or rejected immediately, The Association of Banks in Singapore (ABS) said on Friday (Oct 3).

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