Singapore banks to allow customers to 'lock up' funds in latest move to guard against scams

Singapore banks to allow customers to 'lock up' funds in latest move to guard against scams

Channel NewsAsia - Commentary·2023-10-06 22:03

SINGAPORE: As a further step to guard against rising scam cases, Singapore’s three local banks will soon allow their customers to set aside and “lock up” a certain amount of funds that cannot be transferred out of one’s account digitally.

DBS, OCBC and UOB told CNA that they will be rolling out their own versions of a “money lock” by next month.

……

Read full article on Channel NewsAsia - Commentary

Technology Bank News International