A road in Wajima, one of the hardest hit by the massive New Year’s Day earthquake, was captured on film on public journalist NHK, which showed an entire road submerged in the street. As of Sunday morning, one man had been killed, three were missing and two were seriously damagedContinue Reading
One person has died and seven people are missing, authorities said, after “unprecedented” storms caused floods and landslides in the southern quake-hit area of Ishikawa in northern Japan.
Japan Meteorological Agency ( JMA ) on Saturday issued its highest “life-threatening” alert level for the Ishikawa region, following torrential rains which are expected to last until midday on Sunday.
After at least a dozen streams in the area burst their banks, more than 40, 000 people across four places have been given the order to leave.
According to Japan’s public services journalist NHK, two of the missing were swept away by powerful river currents.
Another four personnel who were repairing roads on New Year’s Day are also unaccounted for, however.
More than 120mm ( 4.7in ) of rain was recorded in Wajima on Saturday morning, NHK reported, the heaviest downpour in the region since records began.
Sugimoto Satoshi, a JMA forecaster, stated to reporters:” This level of storms has never been experienced in this region earlier. Residents may secure their health quickly. The threat to their life is inevitable”.
Broadcast footage captured an entire city in Wajima being submerged under water.
Koji Yamamoto, a government official, told AFP that 60 people were attempting to repair a road in the city of Wajima that had been damaged by the earthquake, but that they were also hit by a disaster on Saturday night.
” I asked]contractors ] to check the safety of workers… but we are still unable to contact four people”, Mr Yamamoto said.
Rescue personnel who had tried to gain access to the site, he said, were “blocked by mudslides”.
A deeper two people have been seriously injured, according to state officials.
Some 6, 000 families have been left without power, with an undisclosed number of households without running water, AFP organization reported.
Around 44, 000 people have been ordered to leave the cities of Wajima and Suzu and seek refuge in Honshu Island’s Ishikawa province.
However, another 16, 000 people in the Niigata and Yamagata counties north of Ishikawa were likewise told to leave, the AFP media company said.
Wajima and Suzu, in northern Japan’s Noto coast, were among the areas hardest hit by a large quake at the start of the year that killed at least 236 people.
The region is still recovering after the deadly magnitude 7.5 earthquake on New Year’s Day.
The strong collapse had toppled houses, ripped up streets and sparked a big fire.
In recent years, Japan has experienced exceptional precipitation in some areas of the nation, with floods and landslides occasionally resulting in fatalities.
TOKYO: Japanese authorities told tens of thousands of people to evacuate the quake-hit region of Ishikawa on Saturday ( Sep 21 ) as “unprecedented” rains triggered floods and landslides. As of 11am ( 2am GMT ), a dozen rivers in the area had burst their banks, according to land ministryContinue Reading
SINGAPORE: A specific remark made by Chinese President Xi Jinping to regional authorities during a recent visit to the city in northwest Lanzhou, which was located along the Yellow River, caught the attention of foreigners in China. The statement was n’t about environmental protection.
Mr. Xi’s alleged statement,” Strive to achieve the full-year economic and social growth goals,” is a small change from the company command he made just months before.
Following China’s financial reform-focused Second Plenum conference held in July, his text therefore was stronger and clearer – that goals must be achieved “unwaveringly”.
This shift in tone, yet” subtle”, did not go unnoticed among spectators.  ,
” Where usually we expect to observe phrases such as ‘ completely determined’ or ‘ unwavering,’ ( Mr Xi’s use of ) the word’ strive’ emphasises the effort and not the outcome”, wrote Mr John Browning, managing director of BANDS Financial, a Hong Kong-based commodity and economical futures broker, in his newsletter.
Others say it was n’t just a change in rhetoric. Experts who spoke to CNA said the changing tone was a representation of Mr. Xi’s tacit acknowledgment of the complex problems that are currently confronting China’s economy and that it is trying to temper anticipation. Beijing is still formally committed to its 5 % growth goal for 2024.  ,
According to Mr. Matteo Giovannini, a senior finance manager at the Industrial and Commercial Bank of China ( ICBC ) and non-resident associate fellow at the Center for China and Globalization,” Chinese officials are frequently very deliberate in their wording.” He added that the linguistic change may be a” sign that economic pressures are mounting, and that the leadership is managing expectations.
Mr Xi’s transition from a “more resolute’ unwaveringly’ to significantly more careful’ strive to accomplish’ suggests a recognition ( from him ) of the difficulties in achieving China’s 2024 growth targets but certainly a whole admission that the target is unattainable”, said Mr Giovannini.
He adds:” While the change in language seems gentle, in the context of Taiwanese social conversation, even small variations in wording may indicate broader motives”.
Experts told CNA that it’s a probable indicator that Beijing is reviewing its strategy, which may help to set the stage for more effective policy changes in the upcoming year.  ,  ,
Although the appearance is not uncommon, it has been used numerous times throughout history.
Mr. Xi urged leaders to” strive to achieve the goals and tasks for economic and social growth” in February 2020, when the pandemic greatly burdened the economy and China broke with more than a quarter-century history by absolving China of its annual economic growth goal.
He repeated it in July 2022 after a weekly Politburo’s financial meeting, telling officers to” try to achieve the best results feasible”.  ,
He once again said,” Strive to achieve the various targets and tasks of economic and social development,” at the central economic work conference in December of last year.
Some experts do n’t think it represents a significant policy change despite Mr. Xi’s soft tone.  ,
Top leaders appear to have already accepted the reality that the growth target is unlikely to be met despite the change in the economic landscape, according to Ms. Guo Shan, partner at Hutong Research.
” This is likely due to the economy’s structural soundness, with auto sales improving, employment stabilising, and high-tech industries outperforming”, Ms Guo said. ” Rather than achieving an exact GDP figure, the leadership appears more focused on addressing long-term structural issues.”
Last Saturday ( Sep 14), China’s National Bureau of Statistics released its economic data for August, with most indicators falling short of expectations.  ,
Retail sales, industrial value added, and year-to-date fixed-asset investment ( FAI ) grew by 2.1 per cent, 4.5 per cent, and 3.4 per cent year-on-year, respectively- each lower than in July, even with recent policy support.  ,
Malaysia Debt Ventures Berhad ( MDV), a leading fintech company specializing in Peer-to-Peer ( P2P ) financing and supply chain finance, announced the continuation and expansion of its strategic partnership. MDV is extending a new US$ 1.2 million ( RM5 million ) facility to CapBay to further support tech-driven SMEs and improve access to alternative financing solutions.
MDV second partnered with CapBay in 2021 by providing a pilot account for purchase through CapBay’s P2P system. This fund, aligned with the Ministry of Science, Technology, and Innovation’s ( MOSTI ) 10-10 Malaysian Science, Technology, Innovation, and Economy ( MySTIE ) framework, aimed to support the industry’s recovery from the pandemic. The captain account has since grown six-fold, demonstrating MDV’s trust in CapBay’s revolutionary approach to Business funding and its powerful performance.
CapBay, globally recognised for its leadership in fintech, has facilitated over US$ 813 million ( RM3.4 billion ) in financing, including US$ 239 million ( RM1 billion ) in Shariah-compliant funding, benefiting 1, 800 SMEs across 20 industries. Featured in CNBC and Statista’s Global Fintech Companies list ( 2023 and 2024 ) and ranked 30th on the FT High-Growth Companies Asia-Pacific 2024 list, CapBay has achieved an 18x expansion and a 166 % compound annual growth rate ( CAGR ) from 2019 to 2022.
]RM1 = US$ 0.29 ]
Through its Multi-Bank Supply Chain Finance system, CapBay has transformed SME funding in Malaysia since its founding in 2017. It uses AI-powered credit rating, advanced information study, and machine learning to evaluate SMEs that are frequently overlooked by traditional lenders. With this strategy, CapBay is able to offer targeted financing while still maintaining a default rate of less than 0.3 %. CapBay’s P2P platform, which is licensed by the Securities Commission Malaysia, gives investors access to private credit deals with average net returns of up to 8.3 % annually while strategically diversifying funds across multiple financing notes to reduce risks and maximize returns.
The new RM5 million facility highlights MDV’s confidence in CapBay’s ability to provide effective financing solutions for startups and SMEs, particularly those battling traditional funding. With this partnership, CapBay intends to expand its supply chain financing offerings and offer creative financial solutions to Malaysian SMEs. These funds will enable the business to keep providing alternative financing options to Malaysian SMEs, many of whom are battling traditional banks to obtain loans. This aligns with MDV’s long-term goal of leveraging digital fundraising platforms to diversify financing options for technology-based companies.
” Our partnership with CapBay underscores MDV’s commitment to driving innovation in Malaysia’s rapidly evolving FinTech landscape”, said Rizal Fauzi, CEO of MDV. ” As SMEs face challenges accessing traditional financing, especially in the tech sector, we are facilitating critical funding that empowers these businesses to scale, innovate, and contribute to Malaysia’s economic resilience and growth. This partnership is a sign of our belief that underserved businesses can benefit from the potential of digital finance.
Mohd Mokhtar Mohd Shariff, chairman of CapBay, also expressed gratitude for MDV’s continued support. ” We deeply value MDV’s continued support and confidence in CapBay’s vision. The significant advancements we are making in the transformation of SME financing are reflected in our ongoing partnership with MDV. This collaboration provides meaningful opportunities for growth for us to promote innovation that targets underserved businesses. We are working together to promote long-term economic resilience and competitiveness in Malaysia by supporting SMEs ‘ success and also by creating a more inclusive financial ecosystem.
The collaboration between MDV and CapBay demonstrates a mutual commitment to fostering innovation in the financial industry. Through CapBay’s platform, MDV is helping technology-based SMEs access alternative financing solutions, overcoming traditional funding barriers and achieving sustainable growth.
Fintech, in our opinion, is revolutionizing the future of finance by providing novel ways to expand access to capital and help businesses succeed in a fast-paced digital world. We are confident in our ability to help underserved SMEs overcome traditional financing obstacles and accelerate their growth as MDV continues to champion forward-thinking partners like CapBay, said Rizal.
The People’s Bank of China ( PBoC ) is in a crucial position as it looks to reduce the yuan’s appreciation while avoiding crimping Chinese bank profits as it follows the US with significant monetary easing.
On Wednesday, the US Federal Reserve eased its key lending rate by 0.5 percentage points to 4. 75 % to 5 %, marking the first easing in the country since 2019. The Fed Chair Jerome Powell said that higher borrowing costs, put in place to combat inflation, if n’t end up hurting the US market, so the split was greater than the customary 0.25 percent point decline.
Powell claimed that price cuts can be anticipated in the upcoming month and that the lessening will move faster if the economy is weak and slower if it is sturdy.
As the buck weakened, the on-shore yen increased by 233 basis points to close the regional trading program at 7.066 per money on Thursday, the strongest close since May 26, 2023. Due to this, the renminbi had increased by 2.8 % over the previous two months as forex traders anticipated the US Fed’s interest rate may be cut in September.  ,
Currency markets expected that the PBoC may cut its loan prime rate ( LPR ) by 20 basis points on Friday, the Securities Times, a state-owned newspaper and a unit of the People’s Daily, reported on Thursday.  , The magazine said business aspirations for a reduction in existing loan rates, as well as the start of financial stimulation, are also growing.
Another Chinese media, including iFeng.com, likewise said the PBoC will definitely cut costs on Friday. Stock investors have profited from the opportunity to benefit from the markets, even though authorities have not confirmed all these information.  ,
The Shanghai Composite Index gained 0.69 % to 2, 736 while Hong Kong’s Hang Seng Index surged 2 % to 18, 013 on Thursday.  ,
Some experts claimed that the US price cut has made it easier for Asian nations to lower their borrowing rates to improve their economies and that it has also reduced the relationship yield gap between China and the US.
In April 2022, the US Treasury Bond generates have surpassed China’s, leading to a cash flow from China to the US. The supply space peaked at 237 base items, or 2.37 percentage points, in April this year. There is still a deliver space of 168 foundation points between the country’s two largest economy.  ,
The US-China offer gap has decreased by about 1.6 %, according to Zhao Ran, an associate professor at the Capital University of Economics and Business, as US interest rates are declining. With reduced prices, China’s currency will continue to rise over the long run, according to Zhao.  ,
Nevertheless, some economists are worried that the beginning of the US rate-cutting period, which could mean a weaker dollar and stronger yuan, did hurt China’s imports.  ,
” China’s plan is to keep a steady exchange rate for yen. Even if there is a require for yuan respect, a high volatility of the currency’s exchange rate may remain avoided”, Wu Dan, a scientist at the Bank of China Research Institute, told the China Youth Daily, which is a paper published by the Communist Youth League.  ,  ,
She said, from a long-term view, chinese gratitude is good for China as the country can get more capital, import more goods and appreciate more room to use financial tools to improve its economy.  ,
She added that because they avoided purchasing the yen during the strong dollar time, Taiwanese manufacturers may have accumulated about US$ 500 billion in dollar-denominated property since 2022. She claimed that as the yuan increases, these businesses may now be given more incentives to sell their dollar assets to Chinese ones.  ,  ,
After the US Fed rate cut, Chinese companies may dump about$ 1 trillion of dollar-denominated assets, according to Stephen Jen, CEO of Eurizon SLJ Capital, and send some of it back to China. This could lead to a 5- to 10 % yuan appreciation.  ,
In the first eight months of this year, China’s exports rose 6.9 % to 16.45 trillion yuan ($ 2.33 trillion ) from the same period of last year while imports grew 4.7 % to 12.13 trillion yuan. The trade surplus expanded by 13.6 % to 4.32 trillion yuan.  ,
China’s trade with ASEAN countries increased 10 % year on year, and was up 1.1 % with the European Union and 4.4 % with the US over the same period. The increase was primarily attributable to increased shipment numbers of mechanical tools and electronic goods, which made up 59 % of China’s total exports.  ,
Chinese consumers benefit from seeing how much Yuan appreciation lowers their costs of purchasing imported goods. But it will at the same time hurt Chinese exporters”, an Inner-Mongolia-based columnist said in an article published on September 13.  ,
He claimed that the yuan’s appreciation has encouraged Chinese exporters to buy renminbi assets, but that the trend will also cause the Chinese currency to rise. He claimed that a downward spiral might lead to a” stampede,” which would indicate a sharp and unexpected increase in the renminbi, which would lower the volume of orders placed by Chinese manufacturers.  ,
The PBoC wants to slow the yuan appreciation in order to maintain export growth, but the scope for rate reductions is constrained because Chinese banks ‘ net interest margins ( NIMs) have fallen below the industry’s warning line of 1.8 %, which is in line with industry expectations.  ,
Chinese listed banks ‘ average NIM was 1.69 % last year, down 1.94 % in 2022 or 2.23 % from the pre-pandemic level in 2019. In accordance with an EY report, declining NIMs resulted in net interest income levels never before seen since 2017.
After the PBoC cut one-year and five-year LPRs by 10 basis points to 3.35 % and 3.85 %, respectively, in July 2024, the average NIM of major Chinese banks is expected to decline to 1.51 % for the whole year of this year, based on a Visible Alpha consensus.  ,
Zhou Lan, head of the PBoC’s monetary policy department, stated in a media briefing on September 5 that while there are some restrictions on cutting interest rates, Chinese banks can still reduce their reserve requirement ratios ( RRRs ) to help boost the economy.
He said the average RRR, the percentage of a banks ‘ total deposits that must be held in reserve, is around 7 % at present, compared with 15 % in 2018.
Read more: Germany invests more than China, but midstream companies leave.
Follow Jeff Pao on X:  , @jeffpao3
For the first time in four decades, the Federal Reserve has lowered interest rates significantly.
The key lending rate was reduced by 50 basis points to between 4.75 and 5 % on Wednesday ( Sep 18 ). While a price cut was generally anticipated, the size of it came as a surprise for some.
” Generally, 50-basis-point cuts have been used during crises so this violent walk by the Federal Reserve is indeed a surprise”, said Mr Koh Siong Qun, head of investment advice at Wrise Private Singapore.
The most recent action by one of the world’s most powerful central banks is expected to have far-reaching effects beyond America, ranging from influencing economic policies, financial markets, customer mortgages, and saving prices around the world.
Researchers explain to CNA how this will impact you in Singapore.
The Fed’s rate-setting commission is generally focused on two things: Prices and the employment market.
Between March 2022 and July 2023, the Fed went on a tightening binge, increasing levels from nearly zero to a five-decade large collection of 5.25 to 5.5 %, mainly due to the COVID-19 crisis.
The US central banks then remained stagnant for more than a year as it attempted to reduce inflation to its target of 2 %.
The central bank has since increased its assurance that its battle against inflation is almost over as a result of the decline in the US consumer price index, which was over 2.5 % in August, its lowest reading since 2021. Fed policymakers anticipate a lower-than-expected 2.3 % annual headline inflation price based on updated estimates released on Wednesday.
Concerns about the labor market have however decreased as inflation has subsided as unemployment rates have increased to 4.2 % from 3.7 % at the start of the year.
Fed officials now anticipate that the unemployment rate will end this year at 4.4 %, which is higher than the current 4.2 %, and will remain that low through 2025.
The price cut on Wednesday, according to Mr. Kerry Craig, a global market strategist at JP Morgan Asset Management, suggests a significant change in the Fed’s interests from regulating prices to” a jobs-first technique.”
Researchers from BMI, a system of Fitch Solutions, echoed that.
A report from BMI states that” the higher unemployment rate and lower inflation forecasts are regular with a more aggressive stop to the easing period than we had anticipated.”
China’s relation with Africa is set to strengthen. At a conference in Beijing in early September, China’s leader, Xi Jinping, pledged to offer US$ 51 billion in money, funding and assistance to the globe over the next three decades, as well as upgrading diplomatic ties.
Beijing’s near relationship with Africa is not fresh. The first international trip of the year for Taiwanese foreign officials has almost always been to one or more African nations since 1950. However, Xi’s commitments are also certain to raise questions in the US and other Eastern nations, which are competing with China for worldwide influence.
They might even rekindle concerns that China might use “debt-trap diplomacy” to stifle American nations and thus gain control over them. Such is the power of this tale that South Africa’s leader, Cyril Ramaphosa, felt compelled to refuse it at the conference.
The notion of Taiwanese debt traps, especially the renowned circumstance of Sri Lanka’s port of Hambantota, which, in 2017, the Sri Lankan government leased to a Chinese firm to increase liquidity, has been debunked many times.
However, it is crucial to know what China hopes to achieve with diplomacy as American populations and economies expand and China’s relationship with them continues to grow.
China’s wedding with Africa is proper as well as economical. China’s diplomatic ties with Africa help it succeed in its goals of being a major player in a unipolar world, whether it is improving access to resources, increasing global use of its currency, or winning more vote at the UN.
From a strictly financial view, Africa is a potentially profitable market for China. The potential for growth into Africa is enormous for Chinese companies because of its underserved industry and booming population.
This is especially true now that the African Continental Free Trade Area, which was established in 2018, opens the door to the development of cross-border price bars in Africa.
Natural tools make up the majority of the products that China exports from Africa. Many of these sources have proper importance, for instance, in manufacturing batteries. In return, Taiwanese firms export a wide range of items to Africa, including manufactured goods, industrial and agricultural machinery, and automobiles.
In terms of foreign direct investment, Chinese companies are still only the fifth-largest investors in Africa after their Dutch, French, US and UK counterparts. However, their ascent has been relatively quick, and Chinese companies have made significant investments in manufacturing and construction in addition to Western ones.
Chinese companies are major players in the construction industry in Africa, frequently working on projects that are funded by loans from Chinese banks to African governments. In 2019, for example, Chinese contractors accounted for about 60 % of the total value of construction work in Africa.
Some of China’s infrastructure projects have had little impact on Africa’s trade or economic development. And it has, admittedly, also contributed to the increased debt burden of several African countries.
For instance, the expensive expressways that connect Nairobi in Kenya and Kampala in Uganda to the respective international airports have made life easier for city elites and tourists. However, they have not stimulated economic growth.
China has therefore made the recent move to reevaluate its infrastructure finance strategy. In 2021, Xi introduced the concept of” small and beautiful” projects better targeted at the partner country’s needs – a concept he repeated at the recent summit.
It is this alignment with the demands of African leaders that sets China’s engagement with Africa apart from that of the West. Many African leaders ‘ top demands include investment in manufacturing value chains and the importation of African processed goods rather than just raw resources.
Xi’s keynote speech addressed these two concerns. He vowed to increase investment in key industries and to allow for more free-flowing African goods.
China’s support to African nations is political as well as economic. African leaders have been appreciative of its non-interference in the country’s internal affairs, in stark contrast to Western nations, who frequently base their support on the respect of particular social or economic conditions.
This has, in turn, bolstered China’s diplomatic influence on the continent. How many nations maintain diplomatic relations with Taiwan, which the Chinese government views as being part of its territory, is a good indicator of this influence. Only Eswatini and Taiwan have close ties in Africa, and only a small number of other nations have representative offices.
Another Chinese goal is to expand the global reach of its currency, the renminbi. Its goal is to contest the US dollar’s dominance, which gives America complete control over all international transactions.
Since the late 2000s, the People’s Bank of China has signed bilateral swap agreements with Morocco, Egypt, Nigeria and South Africa to conduct transactions in renminbi. Additionally, China wants to increase the renminbi’s use in official lending, both through regional institutions like the New Development Bank and domestic banks like the China Development Bank.
Much like Africa’s Western partners, China pursues both political and economic interests in its dealings with the continent. But, with Western leaders paying little attention to Africa, China does n’t need to pursue debt-trap diplomacy to increase its influence there. To gain ground, it only needs to submit a stronger partnership offer.
The International Economic Development Group, ODI, has a senior research fellow named Linda Calabrese.
This article was republished from The Conversation under a Creative Commons license. Read the original article.
Data and AI leader SAS announced its partnership with Premier Digital Tech Institutions ( PDTI ) by Malaysia Digital Economy Corporation ( MDEC ), furthering its commitment to Malaysia’s development as a digital leader. Through offering training and qualifications in Data Science and AI, the collaboration aims to provide support for MDEC’s Workforce Reskilling and Upskilling Initiative and provide students and teachers with data insights and AI abilities.
In a speech, SAS outlined its goal of training 100 pupils and teachers across PDTIs by the end of 2025, laying a solid foundation for Malaysia’s online business. This was made known during the opening of the new office for SAS, which was hosted by Gobind Singh Deo, the minister of digital Malaysia, at Menara IQ ( Persiaran TRX ). Through education courses and certifications, SAS’s announcements aim to bridge the gap between native talent desire and local talent provide.
” As a chief in information and AI, SAS is playing a crucial role in this national endeavor. Through our partnership with MDEC, we are committed to promoting retraining and upgrading in data analytics and AI, and equipping the workplace for today’s electric economy, according to Amir Sohrabi, local vice president for ASEAN-Korea and mind of modern transformation for Emerging Europe &, Asia Pacific, SAS.
” Our engagement with MDEC aims to ensure that Malaysia’s online business has a strong, future-ready skills network. We look forward to strengthening our engagement between the government, economy, and educational organizations to crystallize Malaysia’s leadership in modern technology. Also, we plan to make our training and certifications more visible and affordable”, he added.
However, Gobind said,” SAS has been at the vanguard of business analysis, having been established in Malaysia for over 40 times. The organization is recognised as the number one industry leader in AI and advanced analysis, with 91 of the best 100 Fortune 500 corporations as SAS clients. This partnership between SAS and MDEC is very welcome, and I encourage more businesses to work with the Ministry of Digital to expand the talent pool.
” The beginning of our Regional Hub KL business is a significant step in the SAS’s journey through Malaysia and the area. This company serves as a regional hub for Malaysia, Indonesia, and Vietnam, fostering synergies across regions and leveraging our regional partner system to deliver and implement SAS systems for local businesses and institutions”, said Febrianto Siboro, managing director ( Malaysia, Indonesia, Vietnam ), SAS.
” Along with our colleagues, we will deliver relevant activities and solutions to help local businesses in banking, insurance, and other businesses harness AI properly for fraud prevention, risk reduction, and strategic decision-making”, he added.
Operating in Malaysia for more than 35 times, SAS is trusted by banks, state, and local organisations to alleviate chance and meet regulatory conformity through its solutions.
SINGAPORE:  , Bankers in Singapore will shortly need Singpass experience verification for clients setting up their online tokens, in an effort to avoid scams.  ,
Major retail banks will gradually implement this over the next three months to improve the customer-facing digital token setup process, according to  , the Monetary Authority of Singapore ( MAS ), and The Association of Banks in Singapore ( ABS ), on Wednesday ( Sep 18 ).  ,
In higher danger scenarios, singapore face confirmation will be activated in order to improve and enhance existing digital key setup procedures, they said.
This involves a mouth scan to verify a company’s identity against federal information before the customer’s online token can get activated.  ,
In their joint media release, MAS and ABS stated that this makes it more difficult for a scammer to install a customer’s digital token by setting it up on his own device using phished credentials like an SMS, one-time passwords ( OTPs ) or bank card information.  ,
Customers who do n’t already have a Singpass account can sign up for one and download the Singpass app before creating a digital token.  ,
Singpass experience validation is the most recent safety measure banks are implementing to protect clients from scams, according to MAS and ABS.  ,