| BANK OF SINGAPORE SECURITY MEASURES |
Bank of Singapore may communicate with clients by email on occasion, so how can you tell which emails are from us, and which are fraudulent? We follow these standard practices in our email communication with you:
- Bank of Singapore will address you by name in every email.
- Bank of Singapore will not embed hyperlinks in emails that take you to sites where you must enter your security information.
- Bank of Singapore will never ask you to confirm your passwords by email or telephone
- Bank of Singapore will use state of the art encryption and authentication mechanisms to secure the online information provided to customers.
If you have any doubts about any email or telephone call that you have received purporting to be from Bank of Singapore, please contact your Relationship Manager immediately.
Two-Factor Authentication (2FA)
Bank of Singapore has implemented two-factor authentication when customers access their information online. Given the increase in security incidents on Internet banking, the Monetary Authority of Singapore expects banks to implement two-factor authentication at login for all types of Internet banking systems offered by banks in Singapore. This is a stronger means of customer verification since it requires information that you posses (i.e. your Password) and the information that is generated randomly from the security token that Bank of Singapore has provided you.
This makes it more difficult for fraudsters to access your account simply with your Username and Password from phishing or other illegal avenues. However, you must ensure that you safekeep your security token provided by Bank of Singapore securely and do not hand this device to any person.
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