Security News
Six Chinese nationals and a Singaporean have been arrested on Monday in Singapore for their alleged role in malicious cyber activities committed in connection with a "global syndicate." [...]
The Singapore Police Force (SPF) has announced the arrest of five Chinese nationals and one Singaporean man for their alleged involvement in illicit cyber activities in the country. The...
INTERPOL said it devised a "Global stop-payment mechanism" that helped facilitate the largest-ever recovery of funds defrauded in a business email compromise scam. The development comes after an unnamed commodity firm based in Singapore fell victim to a BEC scam in mid-July 2024.
Retail banking institutions in Singapore have three months to phase out the use of one-time passwords for authentication purposes when signing into online accounts to mitigate the risk of phishing attacks. The decision was announced by the Monetary Authority of Singapore and The Association of Banks in Singapore on July 9, 2024.
The Monetary Authority of Singapore (MAS) has announced a new requirement impacting all major retail banks in the country to phase out the use of one-time passwords (OTPs) within the next three...
After around two decades of allowing one-time passwords delivered by text message to assist log ins to bank accounts in Singapore, the city-state will abandon the authentication technique. The Monetary Authority of Singapore and The Association of Banks in Singapore announced on Tuesday that "Major retail banks in Singapore will progressively phase out the use of One-Time Passwords for bank account login by customers who are digital token users within the next three months."
The Singapore Police Force (SPF) has announced the extradition of two men from Malaysia for their alleged involvement in a mobile malware campaign targeting citizens in the country since June...
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"Leading experts forecast that cyber security risks associated with quantum will materialize in the coming decade," reasoned [PDF] the MAS. Cryptographically relevant quantum computers "Would break commonly used asymmetric cryptography, while symmetric cryptography could require larger key sizes to remain secure," it added. The monetary authority warned that the security of financial transactions and sensitive data financial institutions process could be at risk, thanks to quantum computers that can "Break some of the commonly used encryption and digital signature algorithms."