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Singapore banks to require Singpass face verification for digital token setup

Singapore’s banks will require Singpass Face Verification for setting up digital tokens over the next three months. This security measure, introduced by MAS and ABS, aims to safeguard customers from rising scams, which cost victims S$385.6 million in early 2024.

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Banks in Singapore will soon introduce Singpass Face Verification (SFV) for customers setting up their digital tokens, aiming to enhance security and combat rising scam cases.

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced on 18 September 2024 that major retail banks will progressively implement this feature over the next three months.

SFV will complement existing authentication methods and will be triggered in higher-risk scenarios. It involves a face scan that verifies the customer’s identity against national records before activating the digital token, which authenticates logins and transactions through mobile banking apps.

This two-factor authentication process is designed to prevent scammers from setting up digital tokens using stolen credentials like SMS-based one-time passwords (OTPs) or bank card information.

“This additional layer of security gives customers increased protection against unauthorised access to their bank accounts,” said Mrs Ong-Ang Ai Boon, director of ABS. MAS assistant managing director for policy, payments, and financial crime, Ms Loo Siew Yee, echoed this sentiment, adding that it is a critical step since digital tokens are used to approve subsequent transactions.

In support of the move, UOB confirmed it will implement Singpass face verification on its UOB TMRW app from October 2024.

However, UOB cautioned that while SFV strengthens security, customers must remain vigilant as scammers continually adapt their methods. “Our customers remain the most effective defence,” said UOB’s head of personal financial services for TMRW Digital, Ms Choo Wan Sim.

Singpass Face Verification was first rolled out in December 2020 for government digital services and is used in processes such as increasing daily CPF withdrawal limits. Its integration into banking reflects the growing importance of robust identity verification in preventing financial scams.

This move is part of a broader effort by Singapore’s financial industry to combat scams, which resulted in losses exceeding S$385.6 million in the first six months of 2024 alone—a 16.3% increase from the same period in 2023.

MAS and ABS have also implemented other measures, including phasing out OTPs for bank logins and introducing the “Money Lock” feature, which allows customers to lock specific amounts of their funds to prevent digital access.

Although seniors aged 65 and above account for only 7.2% of scam victims, authorities are particularly concerned about this vulnerable group, as they risk losing their life savings and may not recover financially.

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Community

BCA: Suspected gas explosion causes partial collapse of shophouses on Syed Alwi Road

A suspected gas explosion caused the partial collapse of two shophouse units at 84 and 85 Syed Alwi Road on Tuesday (8 Oct). The Building and Construction Authority (BCA) confirmed that engineers were sent to assess the structures. Dangerous Building Orders were issued, requiring the owners to close the buildings and implement immediate safety measures.

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SINGAPORE: A suspected gas explosion led to the partial collapse of two shophouse units at 84 and 85 Syed Alwi Road early on Tuesday morning (8 October), according to the Building and Construction Authority (BCA).

In a Facebook post, BCA confirmed that engineers were deployed to the scene to assess the structural integrity of the affected shophouses and adjacent buildings.

The rear portions of both units collapsed, while the front façade and staircase of unit 84 sustained significant damage.

Fortunately, surrounding buildings were not impacted by the explosion and remain structurally sound.

To ensure public safety, BCA has instructed the owners to implement immediate safety measures, cordoning off the affected units.

Additionally, Dangerous Building Orders and Closure Orders were served to the owners of both shophouses, requiring them to shut the buildings immediately.

The owners have also been directed to appoint a Professional Engineer (PE) to recommend precautionary measures, conduct detailed investigations, and propose permanent rectification works.

Earlier, The Singapore Civil Defence Force (SCDF) in a Facebook post reported that they were alerted to the incident at approximately 1.30am.

The affected buildings, located at 84 and 85 Syed Alwi Road, were identified as housing Paakashala Singapore, a vegetarian Indian restaurant, and Nirja Mega Mart.

Upon arrival, SCDF launched a search and rescue operation, deploying search dogs and a drone to ensure no individuals were trapped beneath the rubble.

These efforts supplemented manual searches, with firefighters rescuing one person trapped on the second floor of unit 84.

The individual was unable to evacuate due to a blocked staircase and was safely rescued using a ladder.

SCDF confirmed that no one was trapped under the debris and there were no additional reported injuries at the time of their 7:00 am Facebook update.

Two individuals were transported to Singapore General Hospital and Tan Tok Seng Hospital for treatment of minor injuries.

Four others, though also sustaining minor injuries, declined to be hospitalised.

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Politics

PPP questions sentencing in Iswaran case, seeks clarification on AGC decisions

The People’s Power Party has sought greater clarity from the Attorney-General’s Chambers on why the charges against former Transport Minister Iswaran were reduced from corruption to offences under Section 165, despite the existence of Section 8 of the Prevention of Corruption Act, which carries a presumption of corrupt intent.

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SINGAPORE: The People’s Power Party (PPP) has raised concerns over the recent sentencing of former Transport Minister Iswaran, calling for a harsher punishment and more clarity from the Attorney-General’s Chambers (AGC).

In a Facebook post on Monday (7 Oct), the PPP acknowledged the High Court’s decision but expressed disappointment that the sentence did not fully reflect the seriousness of the charges.

The party agreed with High Court Judge Vincent Hoong’s assessment that the proposed sentences from both the prosecution and defence failed to address the gravity of the 34 counts of gratification involving a public servant. These acts of gratification amounted to S$403,300 in total.

However, the PPP voiced its expectation for a more severe penalty, believing that a longer sentence would send a stronger deterrent message to public officials and officeholders. “The sentence should fully reflect the severity of the charges,” the party noted.

In addition to their concerns about the sentencing, the PPP sought clarification on the AGC’s statement from 24 September 2024 regarding the application of Section 8 of the Prevention of Corruption Act (PCA).

This section presumes corrupt intent unless proven otherwise, shifting the burden of proof to the accused. The PPP expressed interest in understanding how this legal provision was applied to Iswaran’s case and why the charges were eventually reduced from corruption to lesser offences under Section 165 of the Penal Code.

Alternative political parties call for more transparency

The PPP is not the only political party expressing dissatisfaction with the outcome of the case. The Progress Singapore Party (PSP) had also issued a statement earlier, with Secretary-General Hazel Poa calling for more transparency from the AGC.

In her statement, Poa acknowledged the high public interest in the case and urged the AGC to provide further clarity regarding its prosecutorial decisions.

Like the PPP, the PSP questioned why the charges were amended from corruption to lesser offences and emphasised the need for a sentence that would serve as a stronger deterrent to future misconduct by public officials.

Potential precedent and concerns about deterrence

Both the PPP and PSP have expressed concerns that this case could set a dangerous precedent for future corruption-related cases, particularly those involving high-ranking public servants.

The PPP noted that the reduced charges and relatively short sentence might not adequately reflect the gravity of the offences, potentially weakening the message of deterrence that the legal system aims to convey.

In its statement, the PPP emphasised the need for stronger legal measures and prosecutorial strategies in cases involving public officials.

The party suggested that clearer guidelines should be established to ensure that future cases of corruption or misconduct are handled in a way that reflects the severity of the offences and serves as a strong deterrent.


Iswaran begins sentence, opts not to appeal

Initially, Iswaran faced 35 charges, including two counts of corruption under the PCA. However, on 24 September 2024, the AGC amended the charges to less severe offences under Section 165 of the Penal Code, which pertains to public servants receiving valuable items in connection with their duties.

The AGC explained that it had encountered substantial evidentiary risks in pursuing the original corruption charges.

These risks stemmed from the fact that both Iswaran and the businessmen involved would likely deny any corrupt intent, making it difficult to prove inducement or bribery.

The AGC noted that the primary parties in the transactions had a vested interest in denying corruption, which complicated the case and reduced the likelihood of a conviction under the PCA.

Despite these challenges, Iswaran admitted to obstructing the course of justice by repaying S$5,000 for a business-class flight that Ong Beng Seng had arranged. The court considered this and the remaining 30 charges when sentencing Iswaran to 12 months in prison.

Contrary to earlier speculation that Iswaran might appeal the sentence, the former Minister announced on 7 October 2024 that he would not be filing an appeal.

Following this announcement, Iswaran has begun serving his 12-month sentence, marking the conclusion of a high-profile case that has drawn significant public interest. His decision not to appeal signals the end of the legal proceedings, though the ramifications of the case continue to be discussed by political parties and the public.

Iswaran had been sentenced for four counts of receiving valuable gifts while holding public office, in violation of Section 165 of the Penal Code. He was also convicted of one count of obstructing justice. His actions, which involved gifts from prominent businessmen Ong Beng Seng, chairman of Singapore GP, and David Lum Kok Seng, managing director of Lum Chang Holdings, were part of a broader investigation into corruption and misconduct by high-ranking officials.

Ong has since been charged with two charges, but there will not be any charge against Lum, according to the AGC.

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