Main Findings
Image may be NSFW.
Clik here to view.
- 5% of bank customers say clear communication about cybersecurity practices is essential
- Only 28% of customers rate their bank highly on providing this clarity
- Most banks believe they’re doing well in this area, showing a misalignment in perception
Image may be NSFW.
Clik here to view.
Approaches to Cybersecurity Communication
According to Valerie Abend from Accenture, banks fall into different tiers of effectiveness:
- Basic approach: Static websites with minimal “bare bones” information about security
- Incrementally better: More detailed explanations on websites about specific security measures like cloud protection or zero trust
- Superior approach: Proactive in-app messaging, security scores, tips like enabling multifactor authentication, and educational webinars
- Best practice: Weaving security messages into marketing opportunities, like podcast advertisements
Image may be NSFW.
Clik here to view.
What Top Banks Are Doing
The top 10% of banks are:
Image may be NSFW.
Clik here to view.
- Being proactive and transparent in communications
- Embedding cybersecurity upfront in strategic initiatives rather than treating it as compliance
- Empowering their workforce, customers, and third parties to detect and deter threats
This survey highlights an opportunity for many financial institutions to improve their communication of cybersecurity practices and build stronger customer trust.
Clik here to view.
Detailed Scam Prevention Methods in Singapore
Singapore has developed comprehensive approaches to combat the rising tide of scams. Here’s a detailed breakdown of prevention methods implemented across different sectors:
Image may be NSFW.
Clik here to view.
Government Initiatives
Anti-Scam Centre (ASC)
- Established by the Singapore Police Force in 2019
- Works with banks to freeze suspicious accounts and recover stolen funds
- Coordinates with telecommunications companies to block scam calls/messages
- Achieved over $200 million in frozen funds since inception
ScamShield App
Image may be NSFW.
Clik here to view.
- Government-developed mobile application that:
- Filters and blocks are known to scam calls and messages
- Provides real-time alerts about emerging scam trends
- Allows easy reporting of suspected scams
- Uses AI to identify potential scam patterns
- Image may be NSFW.
Clik here to view.![]()
Legislation and Enforcement
- The Online Criminal Harms Act (OCHA) empowers authorities to block access to scam websites and order the Image may be NSFW.
Clik here to view.![]()
removal of fraudulent content. - Digital Identity Verification – Implementation of SingPass as secure authentication for government and financial services
- Public Warnings – National Crime Prevention Council’s “Spot the Signs, Stop the Crimes” campaign
Banking Sector Safeguards
Image may be NSFW.
Clik here to view.
Transaction Security Measures
- Mandatory cooling-off period for first-time fund transfers to new recipients
- Default transaction limits on digital banking platforms
- Removal of clickable links in emails/SMS from financial institutions
- Advanced fraud detection systems using machine learning
- Two-factor authentication (2FA) for all significant transactions
Image may be NSFW.
Clik here to view.
Customer Education
- Banks conduct regular seminars on identifying phishing attempts
- In-app security notifications and updates
- SMS alerts for unusual transactions
- Dedicated scam education zones in bank branches
Telecommunications Protections
Technical Controls
- Implementation of the “+” prefix for all international incoming calls
- Registry against Scam Calls (RASC) system blocks known scam numbers
- SMS Sender ID Registry to prevent spoofing of official organizations
- AI-powered call screening technology
Image may be NSFW.
Clik here to view.
Community-Based Prevention
Community Vigilance Networks
- Neighborhood watch groups with scam prevention training
- Senior citizen ambassador programs to protect vulnerable elderly
- Community-based reporting mechanisms
- Grassroots scam awareness workshops
Image may be NSFW.
Clik here to view.
Targeted Education Programs
- Specialized training for high-risk groups (elderly, students, new immigrants)
- School curriculum integration of scam awareness
- Multi-language educational materials
- Interactive simulation exercises to practice recognizing scams
Image may be NSFW.
Clik here to view.
Private Sector Collaboration
Image may be NSFW.
Clik here to view.
Industry Partnerships
- Information sharing between banks, telcos, and e-commerce platforms
- Joint technological solutions for cross-platform protections
- Unified reporting mechanisms across industries
- Anti-scam accreditation for businesses meeting security standards
Personal Protection Measures Promoted
Image may be NSFW.
Clik here to view.
Digital Hygiene Practices
- Regular security software updates
- Use of password managers and unique passwords
- Enabling multi-factor authentication on all accounts
- Regular checking of account statements
- Verification of website authenticity (checking URLs, secure connections)
- Healthy scepticism toward unsolicited communications
Image may be NSFW.
Clik here to view.
Singapore’s multi-layered approach combines technology, education, legislation, and community involvement to create one of the most comprehensive anti-scam ecosystems globally, though scammers continue to evolve their tactics, requiring continuous adaptation of these preventive measures.
Maxthon
When it comes to staying safe online, using a secure and private browser is crucial. Such a browser can help protect your personal information and keep you safe from cyber threats. One option that offers these features is the Maxthon Browser, which is available for free. It comes with built-in Adblock and anti-tracking software to enhance your browsing privacy.
Maxthon Browser is dedicated to providing a secure and private browsing experience for its users. With a strong focus on privacy and security, Maxthon employs strict measures to safeguard user data and online activities from potential threats. The browser utilises advanced encryption protocols to ensure that user information remains protected during internet sessions.
Image may be NSFW.
Clik here to view.
In addition, Maxthon implements features such as ad blockers, anti-tracking tools, and incognito mode to enhance users’ privacy. By blocking unwanted ads and preventing tracking, the browser helps maintain a secure environment for online activities. Furthermore, incognito mode enables users to browse the web without leaving any trace of their history or activity on the device.
Maxthon’s commitment to prioritising the privacy and security of its users is exemplified through regular updates and security enhancements. These updates are designed to address emerging vulnerabilities and ensure that the browser maintains its reputation as a safe and reliable option for those seeking a private browsing experience. Overall, Maxthon Browser offers a comprehensive set of tools and features aimed at delivering a secure and private browsing experience.
Maxthon Browser, a free web browser, offers users a secure and private browsing experience with its built-in Adblock and anti-tracking software. These features help to protect users from intrusive ads and prevent websites from tracking their online activities. The browser’s Adblock functionality blocks annoying pop-ups and banners, allowing for an uninterrupted browsing session. Additionally, the anti-tracking software safeguards user privacy by preventing websites from collecting personal data without consent.
By utilising Maxthon Browser, users can browse the internet confidently, knowing that their online activities are shielded from prying eyes. The integrated security features alleviate concerns about potential privacy breaches and ensure a safer browsing environment. Furthermore, the browser’s user-friendly interface makes it easy for individuals to customise their privacy settings according to their preferences.
Maxthon Browser not only delivers a seamless browsing experience but also prioritises the privacy and security of its users through its efficient ad-blocking and anti-tracking capabilities. With these protective measures in place, users can enjoy the internet while feeling reassured about their online privacy.
In addition, the desktop version of Maxthon Browser works seamlessly with their VPN, providing an extra layer of security. By using this browser, you can minimise the risk of encountering online threats and enjoy a safer internet experience. With its combination of security features, Maxthon Browser aims to provide users with peace of mind while they browse.
Maxthon Browser stands out as a reliable choice for users who prioritise privacy and security. With its robust encryption measures and extensive privacy settings, it offers a secure browsing experience that gives users peace of mind. The browser’s commitment to protecting user data and preventing unauthorised access sets it apart in the competitive market of web browsers.
Image may be NSFW.
Clik here to view.
The post Bank Customers Want Clearer Communication on Cybersecurity: Survey appeared first on Maxthon | Privacy Private Browser.