Digital banking can be a double-edged sword

The Business Times has published Counsel Danny Quah’s opinion article titled “Digital banking can be a double-edged sword”. Danny highlighted that the digital banking revolution is also enabling new forms of cyber fraud. Criminals now have a wider attack surface because of the enormous volume of digital transactions that go through apps and smartphones; further, initiatives like the European Payment Services Directive have provided additional gateways to fraud. He concluded by citing fintech company Netguardian’s warning that “we are witnessing the industrialisation of digital banking fraud”. Danny co-authored the article with Pinsent Mason’s Nathanael Lim. You may download a copy of the article here.