High-profile phishing incidents recently have dented public trust in digitalisation efforts. After news of the phishing scam targeting OCBC Bank customers broke, some seniors were reported to have cancelled their Internet banking accounts.

Following the incidents, Finance Minister Lawrence Wong said financial institutions are expected to improve security measures, such as using artificial intelligence to enhance fraud detection. The Monetary Authority of Singapore is also working on a liability framework for scam losses.


To read the full article, click here.



Chew Han Ei and Carol Soon are senior research fellows at the Institute of Policy Studies, National University of Singapore, and principal investigators at the NUS Centre for Trusted Internet and Community.

Top photo from Freepik.