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Platforms Featured Southeast Asia

SG financial regulators want banks to scrap clickable links in customer emails, SMS

Singapore – The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have announced new measures to encourage financial institutions in Singapore to enhance their own security across their digital banking systems.

A main takeaway from this announcement is that MAS and ABS has ordered banks to remove any clickable links in emails or SMSes sent to their retail customers. Other measures being announced include delay of at least 12 hours before activation of a new soft token on a mobile device and sending out a notification to existing mobile number or email registered with the bank whenever there is a request to change a customer’s mobile number or email address.

The announcement also included reminders for putting up a threshold for funds transfer transaction notifications to customers to be set by default at SG$100 or lower, as well as cooling-off period before implementation of requests for key account changes such as in a customer’s key contact details.

MAS and ABS continue to warn the general public to never click on links provided in SMSes or emails or never divulge internet banking credentials or passwords to anyone, as well as verifying SMSes or emails received by calling the bank directly and verify that one is at the bank’s official website before making any transactions.

Wee Ee Cheong, Chairman of The Association of Banks in Singapore said, “As an industry, we have always focused on the need to ensure robust security measures while meeting customers’ expectations for convenient and swift services. Together with the MAS and ecosystem players, the banking industry will continue to strengthen consumer protection measures. We also ask that the public stay vigilant given that scams continue to evolve and are executed quickly. We remain committed to upholding the confidence with which customers can transact online safely, while still maintaining a high level of service.”

Meanwhile, Ravi Menon, managing director at MAS, commented, “MAS is deeply concerned about the recent spate of scams and the financial losses suffered by victims. The threat of scams will not go away, but we can reduce our vulnerabilities. This requires a multi-pronged response across the ecosystem. MAS, together with the police, IMDA and other relevant government agencies, is working closely with the financial industry, the telco industry, consumer groups, and other stakeholders to strengthen our collective resilience against scam attacks. We will ensure that digital banking remains secure, efficient, and trusted.”

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Technology Featured Global

OPPO taps AWS to boost cloud-based services

Kuala Lumpur, Malaysia – OPPO, a leading global smart device brand, today announced that it has selected Amazon Web Services (AWS), the world’s leading cloud service provider, to power enhanced cloud-based services for international users of OPPO’s ColorOS operating system. These services have been certified by ePrivacy, CSA STAR, and ISO. 

To support this functionality, OPPO leverages AWS global infrastructures in Singapore, France, and India to accelerate the deployment of cloud-based services including Amazon Aurora, a relational database built for the cloud; and Amazon Simple Storage Service, an online storage service.

Other key security features that will be tapped in as part of OPPO’s security compliance include AWS security features such as AWS CloudTrail, AWS Key Management Service (AWS KMS), AWS Network Firewall, AWS Certificate Manager, and AWS Artifact.

Such an endeavor, according to David Gu, managing director of OPPO International Internet Business, is part of the company’s commitment to remain consistently focused on delivering the best possible user experience.

“AWS’s industry-leading cloud capabilities allow us to rapidly deploy our cloud-based services to provide users around the world with a smoother mobile experience. With the concern for a safe and secure customer experience at the forefront, AWS’s cloud security services help us further enhance the data privacy and protection of our proprietary ColorOS operating system on OPPO devices,” Gu said.

Meanwhile, Li Xiaomang, general manager of the commercial sector at AWS Greater China, commented, “As the world’s most comprehensive and widely adopted cloud platform, AWS continually expands its services to support virtually any cloud workload. We are pleased to support companies like OPPO with the deepest and broadest suite of services, and industry-leading security and compliance capabilities to operate their business and serve their global customers. 

He added, “With AWS, OPPO can accelerate its global business deployment in a secure and effective manner, while meeting local compliance requirements in countries all around the world.”

OPPO’s utilization of AWS for their cloud-based services is one of the promises made for their existing OS, ColorOS, the latest of which is ColorOS 11. According to them, the latest OS update helps ensure user security through features including OPPO’s Private System, Private Safe, and Personal Information Protection, all of which provide their own unique way of imposing mobile security for the mobile user.

“Going forward, OPPO will continue to build on AWS to further improve our services, ensuring all users can enjoy the benefits of technology-free from security concerns,” Gu concluded.