Singapore Banks to Eliminate OTPs for Online Logins in the Next 3 Months
Singapore’s Banking Sector Moves Away from One-Time Passwords Amid Increased Phishing Risks In a significant shift aimed at enhancing cybersecurity, the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced that retail banks will discontinue the use of one-time passwords (OTPs) for online account authentication…