NRIC numbers alone cannot initiate payments, fund transfers: ABS

ABS advised customers to change their login passwords if they are using their NRIC number.

National Registration Identity Card (NRIC) numbers alone cannot be used to initiate payments or fund transfers, the Association of Banks in Singapore (ABS) said.

Banks implement multi-factor authentication for online financial services, adding an extra layer of control to authorise higher-risk activities following login, it added.

Banks are reviewing their practices regarding the use of NRIC numbers, which may lead to changes in some existing procedures.

ABS also advised customers to immediately change their login passwords if they are using their NRIC number or other personally identifiable information to enhance account security and reduce the risk of unauthorised access.

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Association of Banks in Singapore

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