Topic Central bank
Monetary Authority of Singapore
Singapore's central bank and financial regulator. In July 2024 it announced, with the Association of Banks in Singapore, that banks would phase out OTP logins for customers using digital tokens.
Also called: MAS, Singapore
- Jurisdiction
- Singapore
- Official site
- mas.gov.sg
Questions (1) #
- Which countries are banning SMS OTP for banking?Regulation
Singapore, Malaysia, the UAE and the Philippines have ordered banks off SMS or email codes for some or all transactions since 2022.
In the regulation tracker #
- Singapore: OTP login phase-out for customers with digital tokens (In force)
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