Singapore's major retail banks to implement Singpass Face Verification for digital token security within 3 months.
Singapore's major retail banks will implement Singpass Face Verification (SFV) within three months to enhance digital token security against scams. This face scan will verify customer identities against national records before activating digital tokens, making it harder for scammers to gain access. Additional measures include phasing out one-time passwords for logins and introducing a "money lock" feature. Customers are encouraged to remain vigilant and practice good cyber hygiene.
September 18, 2024
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