MAS is working with banks to allow customers to verify if the audio and video calls are genuine, among others. Read more at straitstimes.com.
involving unauthorised bank transactions, Parliament heard on Monday.
He added that banks are also planning to expand the use of biometric technology in addition to passwords and one-time-passwords as a means of authentication. For those who have already fallen victim to such scams, MAS expects banks to treat customers fairly in disputes over unauthorised transactions.
If they wish to, customers may also lodge the dispute with the Financial Dispute Resolution Centre for mediation and adjudication. If they are not satisfied with the outcome, they can also consider seeking legal advice on whether to pursue the case in court.
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