A “kill switch” can also be activated to freeze their account. Using the OCBC Digital app, they can lock and unlock their debit card to prevent digital banking, debit card and ATM access if they suspect their account has been compromised.
Hashtag: #Finance
Microsoft and CrowdStrike stocks bearish on Wall Street after Blue Screen error affects global institutions
The Wall Street movement on Friday coincided with a significant global outage that caused delays for flights, banks, and even doctor’s appointments.
Indian startup Timbuckdo raises seed funding of USD 238K from angel investors Morton Meyerson and Nandkishore Kalambi
Founded by Mythri Kumar and Apoorv Sharma Prasad, Timbuckdo connects students with part-time gig opportunities, bridging the gap between students seeking flexible employment and businesses in need of part-time support.
Bitcoin soars to USD 62,800 following Trump rally shooting
The ripple effects of this price surge were felt across the broader cryptocurrency market.
Singapore banks to gradually replace OTP with digital token for login
This will better protect them against phishing scams, which were among the top five scam types last year, with at least SGD 14.2 million lost to these scams, as per the Singapore Police Force Annual Scams and Cybercrime Brief 2023.
Singapore and UK hold 9th Financial dialogue, bolster partnership in fintech and sustainable finance
The UK and Singapore renewed their commitment to engagement beyond the Dialogue through a series of roadmap engagements to explore further cooperation in sustainable finance and fintech and innovation, ahead of the next Financial Dialogue due to be held in the UK in 2025.
Singapore: MAS introduces amendments to Payment Services Act; Changes to take effect in stages from April 4
MAS stated that the amendments will empower it to impose requirements relating to anti-money laundering and countering the financing of terrorism, user protection and financial stability on DPT service providers.
Singapore: MAS to bolster defence against money laundering and terrorism financing with COSMIC platform
Following public consultation in October 2021, the Financial Services and Markets Act 2022 (FSMA) was amended in May 2023 to set out the legislative framework for COSMIC.
Elon Musk: Tesla CEO slips to third position in world’s richest list, behind Bernard Arnault and Jeff Bezos
Meanwhile, Jeff Bezos, who was the richest for a brief period, went back to the second spot with USD 199 billion. Elon Musk, however, has seen his numbers drop even further, at USD 191 billion, occupying the third position.
Projecting Narendra Modi’s return, Indian FM presents poll-bound ‘no disruption’ unchanged tax rate Interim Budget, estimates fiscal deficit at 5.1% of GDP
While an interim budget is about allocating funds to keep the government functions going before a new government is installed and present a full budget (national polls are due by May in India), the FM focused on the achievements of the Modi government in the past ten years.
