Concerns over fraud protection grow among Singapore bank customers

SINGAPORE: A significant portion of Singapore’s banking customers are increasingly dissatisfied with the perceived level of fraud protection provided by their banks, according to a recent report.

This concern is fueled by growing apprehension over deepfake-powered fraud, with 78% of consumers expressing worry about their banks’ ability to counter these advanced scams. This trend underscores a prevalent belief that financial service providers should be the front line of defence against cyber threats.

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Deepfake fraud concerns prompt calls for better bank safeguardspstrongSix in 10 consumers seek more robust cybersecurity measures from their banks/strong/p pBanks in Singapore appear to be falling short in safeguarding their customers from fraud, with six in 10 demanding more robust cybersecurity measures.
Source: SBRMagazine - 🏆 13. / 51 Read more »