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The digital banking service interruption caused customers to face challenges accessing OCBC's banking facilities and PayNow. An app error message alerted customers to potential difficulties in accessing these services.

Aside from the suggested structure to determine liability for scam-related losses, Members of Parliament also inquired about the procedure for soliciting physical security tokens from banking institutions.

A new report showed an interesting shift towards digital literacy in the Lion City. The surge in digital skills among different age groups signifies Singapore’s commitment to fostering a technologically savvy population.

MAS chief Ravi Menon emphasised the role of AI in enhancing comprehensive surveillance to combat money laundering, particularly due to the operation of launderers across multiple financial institutions.

Various experts predict that MAS will be maintaining its policy next year. This prediction is likely due to core inflation’s continued moderating trajectory towards the long-term historical average of around 1.8%.

The new extension of resources and partnership brings the total number of COIs to 12, providing specialised aid, advisory services, and exclusive facilities aimed directly at the needs of SMEs.

The proposed law aims to oversee substantial local and foreign investments that are critical to Singapore's national security concerns. This move mirrors a global trend where other nations have intensified measures for foreign investments in crucial sectors or companies.

According to the LTA, the COE quota for Categories A, B, and C is anticipated to continue its upward trend in 2024, heading towards its peak supply in 2025. Meanwhile, the quota for Category D in 2024 is projected to maintain a level similar to that of 2023.

DBS chairman Peter Seah admitted that the bank fell short of meeting customer expectations. According to this, the senior management will be held responsible and their compensation will be impacted.

YouTrip’s CEO emphasised that its strategic approach revolves around maintaining consistency and prioritising localisation. Its new funding will focus on expansion plans, including advanced technologies to enhance YouTrip's offers.

75% of SMBs are actively exploring options to change their banking solution provider. This underscores the growing demand for embedded financial services in the local SMB sector.

From January through August, Singapore witnessed a significant loss of at least S$20 million due to malware scams. Investigative program "Talking Point" delved into the intricacies of these deceptive schemes, shedding light on why both Android and iPhone users need to be vigilant.

This move comes as MAS acknowledges the growing convergence in business models and risk profiles between RFMCs and A/I LFMCs, rendering the current regulatory distinction less relevant as most new entrants opt for A/I LFMC status.

To achieve wealth preservation and multi-generational prosperity, wealthy families are prioritising four key objectives: harmonising relationships across global generations, aligning values between family offices and business enterprises, venturing into innovative investment strategies, and nurturing the personal ambitions and passions of family members.

According to MAS, customers may benefit from having alternative payment providers. The authority also advised people to carry cash as a contingency.