MAS warns of rising phishing scams targeting banking apps
New guidelines ask banks to enable device-binding by default as scam losses climb.
New guidelines ask banks to enable device-binding by default as scam losses climb.
The Monetary Authority of Singapore said reported phishing incidents involving mobile banking rose sharply in the first half of the year, prompting a refreshed set of defensive requirements.
What changes
- Device-binding on by default for sensitive transactions
- Stricter app-clone detection
- Faster takedown of scam-related sites
Consumers are urged to avoid granting accessibility permissions to unfamiliar apps and to verify links through official bank channels.
“If a page asks for your banking PIN via a chat app, it is a scam,” MAS reminded users.
