20 Jan '12, 8am

Smart chips to be implemented in ATM cards by 2014: ABS

SINGAPORE - Two weeks after the largest ATM fraud in Singapore, which saw 700 DBS Bank and POSB customers become victims of unauthorised bank withdrawals, the Association of Banks in Singapore (ABS) today issued a set of measures to be implemented for enhanced banking security. This includes the implementation of EMV chip technology in ATM/ATM-linked debit cards, while retaining the magnetic stripe, over the next two years, with the technology to be fully implemented by 2014. This will require infrastructural changes to the current ATM and NETS point-of-sale networks. ABS confirmed in a press conference today all ABS member banks will also be issuing new online banking tokens with enhanced security features such as "transaction signing" by the end of this year to enhance the security of Internet, mobile and phone banking transactions. Since the second quarter of 2010, bank...

Full article: http://www.todayonline.com/Singapore/EDC120120-0000144/Sm...

Tweets

All banks to implement chip in ATM cards by 2014

All banks to implement chip in ATM cards by 2014

straitstimes.com 20 Jan '12, 8am

The entire banking industry will implement smart chips in their ATM cards by 2014, the Association of Banks in Singapore (...

SNA - All Singapore bank customers will now face inconveniences using ATM card overseas after DBS's security breach

SNA - All Singapore bank customers will now fac...

Yahoo! News Singapore, 20 Jan 2012 Planned measures by banks in Singapore to boost the security of payment card transactio...

#security Singapore has world's lowest cheque a...

asiaone.com 21 Jan '12, 2pm

AsiaOne Saturday, Jan 21, 2012 The Association of Banks in Singapore (ABS) said on Friday that Singapore has one of the wo...

Even the God of Fortune needs to use the ATM

Even the God of Fortune needs to use the ATM

singaporeseen.stomp.com.sg 22 Jan '12, 11am

Wonder where the God of Fortune gets money from? Why, from the ATM of course, just like everyone else. STOMPer D says: "I ...

SMS alerts for ATM withdrawals by end-June

SMS alerts for ATM withdrawals by end-June

straitstimes.com 19 Jan '12, 12am

POSB account holders queueing to update their passbooks in Bishan on Jan 6, after hundreds of DBS and POSB customers were ...